American Honda Motor Co., Inc. (Honda) has a minority interest in FuelMaker Corporation and has provided substantial financial assistance to FuelMaker for a number of years.
While efforts continue to consummate the sale of the FuelMaker, considering its financial condition, FuelMaker has been put into receivership. The receiver has authority, among other things, to file an assignment in bankruptcy on behalf of FuelMaker.
Consistent with Honda’s efforts over the past 10 years to advance technology that will make natural gas a viable alternative fuel, it is in the company’s best interests to maintain the sales and servicing of CNG refuelling equipment. Honda plans to continue sales of the Honda Natural Gas Civic GX, the only dedicated natural gas-powered passenger vehicle available from a major automaker in North America.
The aggressive effort to find a purchaser that would support the sales and servicing of natural gas refuelling products in the future has led to negotiations with an entity that embraces this vision. We believe these negotiations are now in the final stages. We are not able to provide further comment about this matter pending finalization of the legal matters involved.
Source;
http://www.vtec.net/news/news-item?news_item_id=826809
While efforts continue to consummate the sale of the FuelMaker, considering its financial condition, FuelMaker has been put into receivership. The receiver has authority, among other things, to file an assignment in bankruptcy on behalf of FuelMaker.
Consistent with Honda’s efforts over the past 10 years to advance technology that will make natural gas a viable alternative fuel, it is in the company’s best interests to maintain the sales and servicing of CNG refuelling equipment. Honda plans to continue sales of the Honda Natural Gas Civic GX, the only dedicated natural gas-powered passenger vehicle available from a major automaker in North America.
The aggressive effort to find a purchaser that would support the sales and servicing of natural gas refuelling products in the future has led to negotiations with an entity that embraces this vision. We believe these negotiations are now in the final stages. We are not able to provide further comment about this matter pending finalization of the legal matters involved.
Source;
http://www.vtec.net/news/news-item?news_item_id=826809
