Electric Motors Corporation Announces Acquisition

Date : 05/05/2009 @ 1:43PM
Source : Business Wire
Stock : Electric Motors Corp. (GM CE) (EMCO)
Quote : 0.0001  0.0 (0.00%) @ 2:05AM
Electric Motors Corp. (GM CE) share price Chart

Electric Motors Corporation Announces Acquisition

Electric Motors Corp. (GM CE) (USOTC:EMCO)
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Electric Motors Corporation, a Colorado corporation formerly known as Optimax Industries, Inc. (EMCO.PK), announced that it has acquired all of the issued and outstanding shares of stock of Electric Motors Corporation, a California corporation (“EMC”), a privately held company specializing in development and manufacture of electric power drive systems for electric and hybrid vehicles. Upon completion of the acquisition the Company’s name was changed and its new trading symbol was assigned by the NASD. Trading of the Company’s common stock will continue under the symbol EMCO.

EMC CEO Wil Cashen noted the company’s excitement over the new opportunities presented by operating in a public platform. Cashen said, ”As Electric Motors Corporation moves into the pre-assembly stage of its electric automobile drive train systems, the new corporate structure opens the door for a broader investor base. Investor interest in green energy in general and the electrification of automobiles in specific has never been higher.”

About EMC: Electric Motors Corporation (EMC) develops and manufactures electric power drive systems for electric vehicles for EMC brand and other various manufacturer brand cars and light duty trucks. EMC utilizes proprietary electric drive system technology and methodology of compounding motor-generators, EMC flex-fuel motors and energy control/management/storage systems to greatly reduce parasitic power train losses that significantly improve fuel efficiency and deliver cleaner emissions. EMC’s power drive technology is clean, efficient, safe and reliable and simple to apply to vehicles produced currently and future electric plug-in and/or hybrid models. EMC electric power drive systems generate drive energy or charging energy that efficiently increases the vehicle total drive range for long distances. EMC’s mission is to become the first independent company to mass-produce cost-competitive power-train systems for hybrid and electric vehicles and therefrom design, produce and sell company branded truck and car models internationally with superior performance and design advantage.

The company’s corporate headquarters are located in Camarillo, California with research and development offices located in San Jose, California. Assembly and manufacturing facilities are located in Nappanee, Indiana. All EMC issued press releases appear on EMC’s website (http://www.emchq.com). Any announcement that does not appear on the EMC website has not been issued by EMC.

For additional information, please contact Ralph King, Chief Communications Officer of EMC; rking@emchq; (805)357-3220

Special Note Regarding Forward-Looking Statements: Statements in this news release about anticipated or expected future revenue or growth or expressions of future goals or objectives, including statements regarding whether current plans to grow and strengthen the Company's existing business, are forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements in this release are based upon information available to EMC on the date of this release. Any forward-looking statements involve risks and uncertainties, including the risk that EMC will be unable to grow or strengthen its business due to a lack of capital or an inability to identify acquisition candidates and that EMC may not realize anticipated cost savings or revenue growth opportunities associated with any acquisitions, planned or otherwise. Additionally, forward-looking statements concerning the performance of EMC’s business are based on current market conditions and risks, which may change as the result of certain regulatory, competitive or economic events, as well as other risks and uncertainties, which could cause actual events or results to differ materially from the events or results described in the forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.

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