The AGM was enlightening as Markjohn has summarized well. The other points I gleaned from the meeting are as follows; 1. the Weichai problems stems from a excess oil consumption problem which ACE believes is a base engine problem and I am inclined to agree. They are trying to get them to quantify their loss and negotiate a settlement. 2. the Tata testing is going well and they don't have any competition on the 2 engines they are converting to CNG as they won the work on a competitive tender initially. So if the final testing is successful they will get the orders. This deal is the company maker. 3. There is some potential orders soon with Norinco using current engines and they are not just waiting on the setting up the Duetz engines
ACE Price at posting:
6.5¢ Sentiment: LT Buy Disclosure: Held
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