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  • Details on FSS buying FM

    Here's FSS' latest 10-Q filing with FM purchase info:

    Acquisition of FuelMaker Corporation Assets


    On May 1, 2009, Fuel Systems announced that MTM had agreed to acquire selected assets and technology for compressed natural gas (CNG) refueling products manufactured by FuelMaker Corporation ("FuelMaker"), including the home refueling appliance marketed under the Phill(TM) brand. MTM entered into two separate but related asset purchase agreements to facilitate the transaction consisting of an agreement to acquire certain assets from the Receiver and Manager of FuelMaker (the "Receiver") to be executed by the Receiver upon the receipt of Court approval and an agreement to acquire certain assets and technology from American Honda Motor Co., Inc. The combined transactions are valued at approximately $7.0 million, subject to an upward or downward adjustment based on the gross book value of certain assets of FuelMaker, and are expected to close in the second quarter of 2009. Neither agreement may close without the other. The closing of the transactions is subject to customary closing conditions.
    As part of the purchase agreements, we have agreed to fulfill certain FuelMaker service obligations and has assumed certain outstanding purchase orders. In an additional agreement with American Honda, we have made provisions to license technology back to American Honda under certain circumstances to support its natural gas vehicle activities. The closing of the related transactions is subject to closing conditions customary in this type of transaction.


    http://www.marketwatch.com/news/story/10-q-fuel-systems-solutions-inc/story.aspx?guid={BCE21AE5-E3A4-455C-8B41-A0A296BE984C}&dist=msr_1
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    Last edited by freedml; 03-12-2011, 10:17 AM.
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  • #2
    Re: Details on FSS buying FM

    Who is fss or mtm? Where are they located?

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    • #3
      Re: Details on FSS buying FM

      Originally posted by RAN2444 View Post
      Who is fss or mtm? Where are they located?
      http://www.google.com/#hl=en&q=fss+m...fp=0_TDBcSQxa0


      ?Innovation is driven by having access to things.? -- Gleb Budman, CEO of backblaze.com

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      • #4
        Re: Details on FSS buying FM

        FSS is Fuel System Solutions based in Orange County. MTM is their parent company based in Italy.
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        Last edited by freedml; 03-12-2011, 10:17 AM.
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        03 Crown Vic
        06 GX
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        • #5
          Re: Details on FSS buying FM

          FSS is in Santa Ana, CA, not all that far from my location in L.A. I plan to stop by there and ask them what's up, and will post an update.

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          • #6
            Re: Details on FSS buying FM

            FSYS is in Santa Ana, but not for long. They are moving HQ to New York.

            http://losangeles.bizjournals.com/lo...html?ana=yfcpc

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            • #7
              Re: Details on FSS buying FM

              Who knows when...
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              Last edited by freedml; 03-12-2011, 10:17 AM.
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              • #8
                Re: Details on FSS buying FM

                Latest news: FSYS has completed the purchase of FM. http://www.tradingmarkets.com/.site/...0News/2348450/

                Latest rumor: They are packing everything up and shipping it to Italy. (no source -- it's a RUMOR!)
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                Last edited by freedml; 03-12-2011, 10:17 AM.
                02 GX
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                06 GX
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                • #9
                  Re: Details on FSS buying FM

                  All of the VRA manufacturing, parts and core rebuilding for the USA and Canada are being moved to IMPCO's facility in Detroit. (Sterling Heights)
                  Dave Clement

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                  • #10
                    Re: Details on FSS buying FM

                    Any idea how soon they'll start delivering? Does that include Phill?
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                    Last edited by freedml; 03-12-2011, 10:18 AM.
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