DUBAI, United Arab Emirates, March 24 /PRNewswire-FirstCall/ -- Axial Vector Engine Corporation (Pink Sheets: AXVC) (Frankfurt: BAE1) announces that two assembly facilities, one in Detroit and the other in Dubai, are scheduled to come online to meet the demand for AVEC products.
The Detroit facility is an 18,000 sq. ft. Class A Building currently housing Adaptive Propulsion Systems, which is being purchased by Emirates International Capital Advisory (EICA). Final assembly of 100 kW generators will be completed in this building. Primary sales and distribution from this location are expected to be geared for United States military and generator conversion systems.
AVEC has narrowed to three choices that average 40,000 sq. ft. each for the Dubai facility, and a final decision is expected to be made next week. This facility will also complete assembly for 100 kW generators as well as final assembly for multi-fuel Work Horse engines. The facility will begin with one assembly line that can be expanded to add three more. Request for bids on block casting and sub-components have been tendered to three suppliers on each category.
Axial Vector(TM) Engine Corporation is a publicly traded company (OTC Pink Sheets: AXVC.PK) that owns, develops and licenses proprietary intellectual property regarding unique internal combustion engine, generator and electric motor technologies. AVEC is applying these technologies to develop an exciting, new, smaller and lighter internal combustion engine that produces significantly greater horsepower and three times more torque on less fuel than conventional engines of similar size. It also owns the worlds first "coreless" power generator and ultra efficient electric motors.
Forward-Looking Statements This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
CONTACT: Axial Vector Engine Corporation
503-471-1348
One World Trade Center
121 SW Salmon Street, Suite 1100
Portland, Oregon USA
http://www.axialvectorengine.com/ DATASOURCE: Axial Vector Engine Corporation CONTACT: Axial Vector Engine Corporation, +1-503-471-1348, Web site: http://www.axialvectorengine.com/
|