Electric Motors Corporation Announces Acquisition
May 05 2009 - 1:43PM
Business Wire
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.