Fuel systems developer IMPCO Technologies has reported that the company's recent entry into the Egyptian natural gas vehicle market has earned it one million dollars in sales in the first four months of operation.
Since the start of business in July, sales of compressed natural gas (CNG) tanks have captured the major market share of the domestic light duty CNG tank market. The tanks are manufactured by a subsidiary of the BRC/IMPCO joint venture partner in Brazil who is part of the Praxair family of companies.
"In addition to our CNG fuel storage business, the Cairo office is also commercially engaged in applications that cover the full spectrum of natural gas fuel use in internal combustion engines including bus, truck, light duty vehicle and industrial power generation and irrigation applications," said IMPCO Egypt's General Manager, Waleed Samir.
"The desire of Egypt to use its own natural gas reserves versus importing liquid fuel provides an additional incentive to reduce its balance of payment deficit and create more jobs," added Samir. The price of CNG in Egypt is 55 percent less than petrol.
IMPCO and BRC design, manufacture, market and supply advanced alternative fuel systems and related products for the transportation, industrial and power generation markets. Headquartered in the United States and Italy, the company has offices in Asia, Europe, Australia and South and North America. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
