Reschedules Conference Call to Friday, August 12 at 9:00AM
- President Obama to visit Azure's battery supplier, Johnson Controls, in Holland, MI, Thursday, August 11, 2011 - Azure executives to attend
- Azure's Transit Connect Electric and BalanceTM Hybrid Electric Shuttle Bus will be on display at the event, in which new vehicle fuel efficiency standards will be addressed
- U.S. releases final regulations establishing fuel economy standards for medium and heavy duty commercial trucks
OAK PARK, MI, Aug. 9, 2011 /PRNewswire/ - Azure Dynamics Corporation (TSX: AZD)(OTC: AZDDF) ("Azure" or the "Company"), a world leader in the development and production of hybrid electric and electric components and powertrain systems for light and medium duty commercial vehicles, as previously announced, plans to release its second quarter 2011 earnings on Thursday, August 11th after the financial markets close. The related conference call has been rescheduled to Friday, August 12th, at 9:00 a.m. EDT due to President Obama visiting Azure's battery supplier, Johnson Controls, on August 11, 2011, for which Azure's CEO, Scott Harrison, has been invited to attend.
While at the new Johnson Controls battery facility, it is expected that the President "will highlight the key role innovative technologies will play in helping automakers achieve the historic fuel economy standards, establishing U.S. leadership in advanced vehicle manufacturing, spurring economic growth and creating high-quality domestic jobs in cutting edge industries across America," a White House official said.
As part of the event at the Holland, Michigan advanced battery facility, three Azure vehicles will be on display, two Transit Connect Electric vans and a BalanceTM Hybrid Electric Shuttle Bus.
President Obama and automakers reached a deal last week to double fuel efficiency standards to 54.5 mpg for cars and light duty trucks by 2025, and today, President Obama introduced the long-awaited regulations establishing fuel economy standards for commercial trucks. The new regulations require commercial vehicles to reduce fuel consumption and greenhouse gas emissions by as much as 15% by 2018.
"Azure is in an excellent position to support our fleet customers in meeting these requirements and reducing operating costs, including fuel and maintenance costs," said Harrison. "Our Transit Connect Electric, BalanceTM Hybrid Delivery Van/Shuttle Bus and, expected in 2013 the F-550 Super duty, which is under development, are well positioned to address these standards, as customers seek fuel efficient alternative commercial vehicles to meet their diversified fleet requirements."
President Obama has called for getting one million plug-in electric hybrids on U.S. roadways by 2015. Part of the 2009 stimulus package included $2 billion in grants for electric vehicle and battery programs. More than half of the funds went to Michigan companies or projects.
2011 2nd Quarter Conference Call Information
The 2011 2nd quarter conference call is scheduled for 9:00 a.m. eastern daylight time on Friday, August 12, 2011. Interested listeners can access the call toll free at 1-877-317-6789. Participants from outside North America can participate in the call by dialing 1-412-317-6789. It is recommended that callers access the call at least fifteen minutes before the scheduled start time.
Azure's conference call presentation will be posted to the Company's website, www.azuredynamics.com, immediately prior to the call on August 12, 2011. For those unable to participate in the live conference, a call replay will be posted on Azure's website following the call no later than August 13, 2011.
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD)(OTC: AZDDF) is a world leader in the development and production of hybrid electric and electric components and powertrain systems for commercial vehicles. Azure is strategically targeting the commercial delivery vehicle and shuttle bus markets and is currently working internationally with a variety of partners and customers. The Company is committed to providing customers and partners with innovative, cost-efficient, and environmentally-friendly energy management solutions. For more information on how Azure Dynamics products are Driving a World of Difference, please visit www.azuredynamics.com.
The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.
# # #
Forward-Looking Statements Advisory
Certain information included in this press release constitutes forward-looking statements and information and future-oriented financial information under applicable securities legislation and is provided for the purpose of expressing management's current expectations and plans for the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.
More particularly, this press release contains statements concerning Azure's anticipated second quarter earnings release and conference call. The forward-looking statements are based on a number of key expectations and assumptions made by Azure, including expectations and assumptions concerning achievement of current timetables. Although Azure believes that the expectations and assumptions used to develop the forward-looking statements are reasonable, undue reliance should not be placed on the forward-looking statements because Azure can give no assurance that they will prove to be correct.
Since forward-looking statements address future events and conditions, by their very nature they involve numerous risks and uncertainties that contribute to the possibility that the projections and forecasts in the forward-looking statements will not occur and that actual performance or results could differ materially from those anticipated in the forward-looking statements. Additional information on these risks and other factors that could affect Azure's operations and financial results are included in reports on file with the Canadian securities regulatory authorities and can be accessed through the SEDAR website at www.sedar.com.
The forward-looking statements contained in this press release are made as of the date hereof and Azure undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Additionally, Azure undertakes no obligation to comment on the expectations of, or statements made by, third parties about Azure.
SOURCE Azure Dynamics Corporation