Company Announcement: Turbodyne Technologies Inc. AlliedSignal to Test New Garrett Turbocharger With Major U.S. and European Auto Manufacturers
The following was released by Allied Signal Inc. on Thursday 26 August 1999.
AlliedSignal to Test New Garrett Turbocharger With Major U.S.
and European Auto Manufacturers
TORRANCE, Calif.--(BUSINESS WIRE)--Aug. 26, 1999--AlliedSignal
Inc. (NYSE:ALD) Thursday said that its Turbocharging Systems unit will
begin testing its new electrically assisted turbocharger with major
U.S. and European automotive manufacturers by the end of the year.
The new Garrett(R) turbocharger will carry the Dynacharger(TM)
"We are on schedule with the Garrett(R) Dynacharger(TM)
prototype's design and testing programs," said Keith Pigues, vice
president of global marketing for Garrett(R). "As the first of its
kind, the Garrett(R) Dynacharger(TM) is an exciting addition to our
current turbocharger line, and it is applicable for both gasoline and
Pigues said current data show one of the main advantages of
electrically assisted turbocharging technology is its ability to
eliminate "turbolag," the typical "lag time" between the moment a
driver accelerates and the time an engine receives "boost" from the
In addition, the electrically assisted turbocharger produces
electricity that could be used to replenish a vehicle's battery, among
AlliedSignal and Turbodyne Technologies Inc. (EASDAQ:TRBD) have
been jointly developing the Garrett(R) Dynacharger(TM) under an
exclusive licensing and development agreement. As part of the
agreement, Turbodyne is supplying light-metal castings, electric
motors, generators and electronic controls.
AlliedSignal holds exclusive rights for the manufacturing and
marketing of any turbocharger products being developed on a worldwide
basis as a result of the joint activities.
"We are pleased with the progress of the program and completion
of the first design phase," said Professor Dr. Peter Hofbauer,
Turbodyne's chief executive officer. "We are looking forward to
beginning the next phase of developing and manufacturing the
Garrett(R) Dynacharger(TM) with AlliedSignal and to begin delivering
prototypes to automakers."
With more than $1 billion in sales and 5,000 employees,
AlliedSignal Turbocharging Systems is a global manufacturer of
Garrett(R) turbochargers, superchargers and charge-air coolers for
diesel and gasoline-driven passenger cars, commercial vehicles and
The company's worldwide headquarters is based in Torrance, and
its European headquarters is based in Levallois Perret, France.
Turbocharging Systems operates 15 manufacturing facilities and
technology centers in 12 nations throughout the Americas, Europe and
AlliedSignal is an advanced technology and manufacturing company
serving customers worldwide with aerospace products and services,
automotive products, chemicals, fibers, plastics and advanced
materials. It is one of the 30 stocks that make up the Dow Jones
Industrial Average and is also a component of the Standard & Poor's
500 Index. The company employs 70,400 people in some 40 countries.
Additional information on the company is available on the World
Wide Web at http://www.alliedsignal.com.
AlliedSignal was named the best diversified company by Forbes
Global magazine; the most admired aerospace company by Fortune
magazine, both globally and in the United States; and one of the 100
best companies to work for by Fortune.
Turbodyne Technologies, a California-based high-technology
company, specializes through its Engine Technology Division in the
development, manufacture and marketing of proprietary pollution-
control, fuel-economy and performance-enhancement products for
internal combustion engines in the global automotive, transportation,
construction, agriculture, marine, mining, military and power-
Turbodyne's Light Metals Division is a manufacturer of machined
aluminum castings and a leading supplier to the automotive industry.
Turbodyne Technologies maintains offices and/or plants located in
Carpinteria, La Mirada, Encinitas and Woodland Hills, Calif.; New
York; Ensenada and Mexico City, Mexico; Paris; and Frankfurt, Germany.
This news release contains forward-looking statements as defined
in Section 21E of the Securities Exchange Act of 1934, including
statements about future business operations, financial performance and
market conditions. Such forward-looking statements involve risks and
uncertainties inherent in business forecasts.
CONTACT: AlliedSignal Inc., Torrance
Krista Shepard, 310/791-9170
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