Limited Edition Satria Neo R3 Supercharged

newzahari · Post time 2-5-2011 10:06 PM

Post Last Edit by newzahari at 2-5-2011 23:24

‎29-April-11 by Dan Wilkie

Automotive Technology Group has announced it has won a $600,000 contract to supply its Sprintex Supercharger to Malaysian car manufacturer Proton.

The initial purchase order of 500 superchargers is ATG's original equipment manufacturing contract and represents the largest single order received for the systems.

ATG said it would target delivering 50 units per week, and would commence supply in October.

The initial quantity of supercharger systems will be manufactured to suit Proton's Satria Neo.

The announcement follows ATG's February announcement that it had entered into an agreement with Malaysian automotive component manufacturer Proreka to investigate the feasibility of jointly developing a Sprintex Supercharger factory in Malaysia.

"We are delighted to have attracted this first OEM order from Malaysia," ATG
managing director, Steven Apedaile said.

"We have selected Malaysia as a suitable location for ATG's first offshore Joint Venture manufacturing facility and this order provides a good starting point for ATG's future partnership.

"Supercharging is rapidly gaining acceptance with small car manufacturers and we look forward to expanding our relationship with Proreka and progress OEM agreements with other car manufacturers"

ATG said it was also currently seeking to raise $6 million through a share placement and convertible not to facilitate the growth plan.

At close of trade today ATG shares had gained nearly three per cent, to trade at 3.5 cents.