VAIREX Announces Subscription And Strategic Alliance Agreement with Tecumseh
01 August 2005 16:45
Boulder, Colorado, USA - August 1, 2005 -
VAIREX corporation announced today a Subscription And Strategic Alliance Agreement with Tecumseh Products Company of Tecumseh, Michigan. Under the terms of this Agreement Tecumseh will receive Stock and Warrants, manufacturing rights and a seat on the VAIREX Board of Directors in exchange for an equity investment, in installments, totaling $1,000,000 in cash, products and services.
VAIREX CEO Ski Milburn said, "This exciting development gives us access to scaleable, high quality, low-cost manufacturing capacity to support our customers as they enter volume production and allows VAIREX to focus on what we do best, understanding our customer's requirements and developing high performance solutions tailored to their needs."
VAIREX is a developer and supplier of air management systems for fuel cells and diesel emissions controls with customers in North America, Europe and Asia. Tecumseh is a global supplier of hermetic refrigerant compressors, electrical motors and controls, small engines, and related products.
For more information on this company:
VAIREX Corporation - Fuel Cell Air Management Systems
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