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CSY - is this a big announcement

  1. This looks like a big announcement, though you wouldn't think so from the absence of a reaction in the share price. Cosworth has a reputation for getting things done and is ultimately owned by Ford.

    Here's hoping for September at the Frankfurt motor show.

    Jefferies
    ----------------------------------
    CMC POWER SYSTEMS LIMITED


    * Cosworth Technology completes SYTEC engine design milestone

    * World-renowned UK-based Cosworth Technology will develop the engine for the CMC SYTEC 42-volt Automotive Auxiliary Power Unit (AAPU)

    * Prototype ready in September 2002

    * Modern vehicle power demands drive global automotive industry design needs upward from 12-volt systems to 42-volts

    The Directors of CMC Power Systems Limited (ASX Codes: CSY) are pleased to advise the Company has awarded a contract to UK-based global powertrain company Cosworth Technology Ltd to develop CMC's SYTEC Automotive Auxiliary Power Unit (AAPU) - a power pack critical for the global change to 42-volt systems for vehicles. Cosworth Technology, together with CMC Power Systems Limited, will design and build an AAPU prototype within three months.

    The AAPU power pack will be displayed on CMC's stand in a demonstration vehicle at the Automechanika show in Frankfurt, Germany, in September 2002.

    THE 42-VOLT EVOLUTION

    In a step-change which, so far, has been little heralded, modern vehicle electrical demands are driving the global automotive industry design needs upward from 12-volt systems to 42-volts.

    "In the same way that all vehicles moved from 6-volt systems to 12-volt systems back in the early 1950s, the industry is now moving to 42-volt systems as power output requirements outstrip the capacity of current alternators/generators to provide," said CMC Power Systems Limited CEO Steve Arblaster.

    "The evolution starts this year as systems are introduced into a few marques, but before the end of the decade, production of 42-volt equipped vehicles will have risen to over ten million a year."

    "The industry has made the decision to change and now needs a new power pack solution."

    CMC's AUTO APU

    The AAPU power pack is a small 'drop-in' unit that incorporates an advanced design four-stroke 500cc CMC SYTEC engine, a generator and engine management system.

    The unit was specifically developed in response to the automotive industry's evolution from 12-volt to 42-volt vehicle systems. Unlike its competitors, the AAPU is a standalone unit providing advantages to automotive manufacturers such as substantial cost reduction and design flexibility.

    The AAPU is a generic solution that can be used across all vehicle model and transmission types without modification, making it a cost effective and fast solution for manufacturers. This is in contrast with the AAPU's nearest competitor, the Integrated Starter Alternator/Starter Generator (ISA/ISG), which requires tailoring to each different vehicle model presenting high development costs, a major investment to introduce into production and much longer timeframe for commercial development.

    Early this year, CMC formed a strategic alliance with leading Californian design house Aria Group to form Aria Power Products, which will secure partnerships with global engine manufacturers and suppliers to ensure product acceptance by customers.

    COSWORTH TECHNOLOGY - www.cosworth-technology.co.uk

    Cosworth Technology has been meeting specialist powertrain needs for over 25 years and in the last ten years the company has undertaken 30 major new engine programs for automotive, marine, aero and industrial applications.

    Andrew Stodart, CEng MIMechE, Senior Project Manager at Cosworth Technology said "We are pleased to be working with CMC on this interesting new development for the automotive industry".

    CMC's CEO Mr Stephen Arblaster said the work by Cosworth Technology was a key element in CMC's commercialisation of the AAPU.

    "CMC is ahead of production schedule and ahead of competitors who are unable to provide to manufacturers a 42-volt solution generic across all vehicle models."

    T Teng COMPANY SECRETARY

    For further information contact:

    Mr Steve Arblaster CEO CMC Power Systems 0414 551 269 / (61 2) 9699 9000

    Doug Macdonald The Capital Group 0408 143 404 / (61 2) 9252 3900

    www.cmcpower.com

    www.cosworth-technology.co.uk

    ends - AAP

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