See today's ann.
ACE agrees letter of Intent with TATA to enter 10 year agreement.
- To generate $30 million sales revenue first 3 years + pay ACE development costs on validation to Euro 4 standard
- India's regulatory requirement, all new buses/trucks in
11 major centres be euro emission 4 compliant by
April 2010
- TML as India's largest auto manufacturer is 4th largest
truck manufacturer & 2nd largest bus manufacturer in
world
"The TML Agreement is further confirmation of ACE as a leading supplier of alternative fuel systems and components to the Asia Pacific Region through innovation and quality".
asx ann. natural gas vehicle system loi india
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