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Quantum Fuel Systems to acquire Global Thermoelectric

Posted: 11 Apr 2003 ?? ?Print Version ?Bookmark and Share

Keywords:quantum fuel systems? global thermoelectric? stationary power generator?

Quantum Fuel Systems Technologies Worldwide Inc. has agreed to acquire all of the outstanding shares of Global Thermoelectric Inc. for about $75 million.

Global Thermoelectric develops, manufactures, and sells stationary power generators used in remote locations with power requirements that include natural gas pipeline and gas well cathodic protection, data acquisition and monitoring equipment, and telecommunication applications.

Upon closing, Quantum will integrate Global's operations for the benefit of financial strength, operational efficiencies, and synergistic product development and commercialization. Quantum will maintain operations in Alberta, Michigan, and California, U.S.A., with its headquarters located in California.

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