Perth, July 28, 2008 AEST (ABN Newswire) - Automotive Technology Group Limited (ASX: ATJ) has signed a Memorandum of Understanding (MOU) with Zoom Developers Limited (ZOOM) to undertake a detailed feasibility study for the establishment of a Joint Venture to manufacture and sell up to 1 million of ATG's patented Sprintex Supercharger.
Automotive Technology Group Limited ("ATG") Executive Director - Operations Anthony Hamilton said that ZOOM and ATG would undertake a three month feasibility to determine the parameters for a Joint Venture agreement to establish a manufacturing facility capable of producing approximately 1,000,000 units per annum of its patented Sprintex Superchargers.
Zoom Enterprises is one of India's fastest growing business Groups with Projects and businesses worth US$4 billion under various stages of development, spread over China, India, Middle East, Europe, North and South Americas.
The new purpose-built facility would provide ATG and the Joint Venture with the ability to supply in volume to Original Equipment Manufacturer's (OEM) and aftermarket suppliers both in the India region as well as Europe, North America and South East Asia.
Mr Hamilton said under the agreement, ATG and ZOOM would investigate all applications for the technology including the Automotive Supercharger and Industrial compressor applications for the patented Sprintex unit. The unique profile provided the Sprintex unit with performance characteristic's which placed it at the forefront of the Industry.
The Global Automotive market for forced induction, which includes Superchargers is 21 million units annually. This is forecast to reach 36 million units in 2014. (source: "The Global Market for Automotive Superchargers and Turbochargers" by J Daniels, August 2007 edition)
Mr Hamilton said increasing numbers of OEM's were turning to Supercharging to help reach the tougher emissions and fuel efficiency targets being enforced by governments globally.
"The Sprintex Supercharger achieves these two goals while ensuring the performance demanded by today's drivers can be achieved despite the move to smaller capacity engines, " Mr Hamilton said.
The global pressure to meet emissions regulations is only going to increase in the years ahead, which is the driving philosophy behind ATG's Sprintex technology.
ZOOM DEVELOPERS LIMITED
Zoom Enterprises is one of the fastest growing Business Groups in India, with a well established foothold in diverse business areas. As Project developers, Zoom undertakes Business and Project Development work, involving Process Plants, Industrial & Engineering Projects, Energy, Environment, Infrastructure Projects, Manufacturing, Mining, Petrochemical and Oil & Gas Drilling Projects. Zoom has similar presence in IT, ITES, Telecom, Embedded-Cards, ERP and BPO Service Sectors.
The Group's quest for growth is driven by the combined creativity, passion and dynamism of its Stakeholders, who have established a reputation for developing challenging and complex projects, within its global operations spanning USA, EU, Singapore, Middle East, China and Africa. Zoom Enterprises has achieved an enviable record of Revenue growth of over 60% p.a. since 2005. Projects and businesses worth USD 4 billion are under various stages of development, spread over China, India, Middle East, Europe, North and South Americas.
Included in this is a Real Estate Portfolio of approximately 4 million sq. ft. in commercial centres of India, at various stages of development, covering cities and towns such as Mumbai, Bangalore, Kolkata, Indore, Baroda.
About Sprintex Limited
We go to great lengths to ensure the quality, durability, and ease of installation and maintenance of our patented twin-screw superchargers and systems. All of our supercharger units are run on a SAE J1723 test bench. No supercharger leaves our multi-million dollar facility unless it has met all the stringent tolerances required by the test bench and delivered excellent results. Our superchargers and systems are all built within ISO quality standards.
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