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FSS Completes Acquisition of Fuelmaker Assets

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  • FSS Completes Acquisition of Fuelmaker Assets

    FSS Completes Acquisition of Fuelmaker Assets Fuel Systems Solutions announced this week that it had completed the purchase of selected assets and technology for CNG refueling products manufactured by FuelMaker Corporation (including the home refueling appliance marketed under the Phill brand) for $7.0 million as announced on May 1st. Mariano Costamagna, CEO of Fuel Systems Solutions, said, "We are excited to begin integrating our new technology, patents, certifications and products with our turn-key refueling equipment solutions. Naturally, we expect a transition period during which we will transfer certifications and production; however, management is committed to the continuity of service and production of Phill."

    "Over the past two years, we have selectively acquired complementary businesses that support our business and broaden our opportunity. Our existing refueling solutions for large fleets and gas stations are augmented by the FuelMaker product line, which addresses both the consumer and smaller commercial markets. We are excited to continue to market and service Phill, which we believe we can deploy to existing markets using our global distribution network and original equipment manufacturer (OEM) relationships and to developing markets where the natural gas refueling infrastructure is limited, such as the United States."

    As part of the purchase, Fuel Systems Solutions has agreed to fulfill certain FuelMaker service obligations and has assumed certain outstanding purchase orders. Those with inquiries about FuelMaker and Phill, may contact FSS at 714.656.1268 or [email protected]
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