We would like to highlight General Automotive Co. (OTCBB: GNAU). The company is a North American provider of parts, accessories and advanced technology for the automotive industry. GA, which is focused on expanding its growth platform through the acquisition of successful niche manufacturing companies in the automotive industry, currently has two wholly owned subsidiaries, OE Source and Global Parts Direct.
In the company’s news today,
General Automotive announced the details of a joint venture in which General Auto and SenCer, Inc. have agreed to work together to advance the development of SenCer’s next-gen ceramic composite material, UltraTemp™.
The project will move forward under the name Advanced Technology Group (”ACT”), and stands to accelerate both SenCer’s efforts to commercialize its oxygen sensors and UltraTemp™, as well as General Auto’s ongoing quest to develop the most technologically advanced fuel cells that the world has seen to date. It is thought that UltraTemp™ may play a critical role in circumventing common fuel cell engineering difficulties, such as durability and manufacturing cost issues.
Each company will hold an equal fifty-percent share in the ACT venture, with the option to contribute more capital upon further evaluation of the project’s viability. Unlike the average everyday venture, this one actually has a set expiration date. It has been agreed that if viable commercial opportunity has yet to be realized by January 15th, 2009, ACT will be dissolved. This escape clause both reduces the long-term risk of the shared venture, and reinforces the need to take the appropriate steps in a timely manner.
Joseph DeFrancisci, President and CEO of General Auto stated, “Backed by extensive field test data supporting remarkable thermal properties and the bonding relationship with engineered oxide, conductive metals and ceramics coatings from SenCer’s breakthrough technology UltraTemp™; we believe this new joint venture will accelerate commercial development of potential industry-changing devices in the automotive sensor and fuel cell technology markets worldwide.”
About QualityStocks
QualityStocks, based in Scottsdale, Arizona is a free service that collects data from hundreds Small-Cap and Micro-Cap online Investment Newsletters into one Free Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their advertising efforts and now has over 500,000+ subscribers that receive The Daily Stock Newsletters.
To sign up for “The QualityStocks Daily Newsletter” please visit www.QualityStocks.net
Please see disclaimer on QualityStocks website: http://Disclaimer.QualityStocks.net
Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
