Operations

Tecstar Automotive Acquires Majority Interest in Empire

LCT Staff
Posted on October 5, 2005

IRVINE, CALIF.— Quantum Fuel Systems Technologies Worldwide, Inc., announced that its subsidiary, Tecstar Automotive Group, has acquired a 51% interest in Empire Coach Enterprises, LLC, a second-stage limousine manufacturer, for $600,000 cash. Michael Misseri, who will serve as Empire Coach's COO, will own the remaining 49%. Empire Coach will be located in East Brunswick, N.J.

Among other business opportunities, Empire Coach will pursue qualified vehicle modifier (QVM) status with Ford Motor Co. in order to modify Lincoln Town Cars. Empire will also be able to offer alternative-fuel limousines using Quantum's advanced fuel system technologies for compressed natural gas, propane and hydrogen applications.

"We believe the limousine market is growing and, as a result, we believe the addition of Empire Coach Enterprises will result in increased revenues for the company by enhancing our existing second-stage manufacturing capabilities and capturing new alternative fuel vehicle opportunities,” said Alan Niedzwiecki, president and CEO of Quantum.

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