OEC 1.43% 34.5¢ orbital corporation limited

The 2 Stroke auto engine looks set to appear in Ru

  1. 6,931 Posts.
    Automotive News, June 3, 2002
    Plastics specialist Venture Industries wants to make cars in Russia.
    (Brief Article) Lother Kuhn.
    Full Text: COPYRIGHT 2002 Crain Communications, Inc.

    Russian carmaker ZiL and U.S. supplier Venture Industries plan to
    make a new low-cost compact car jointly in Russia.

    Venture, the parent company of plastic parts supplier Peguform of
    Germany, will receive a $229 million investment in the joint project
    from Gosincor, a financial institution controlled by the Russian
    government.

    ZiL is one of Russia's largest manufacturers of military trucks,
    commercial vehicles and buses. The company, owned by city of Moscow
    authorities, also has built limousines for the Russian government.

    The deal was finalized in April, a year after Venture showed a
    prototype entry-level hatchback model to the ministry of industry in
    Moscow.

    The prototype used a 1.2-liter, three-cylinder, two-stroke, direct-
    injection engine supplied by Australia's Orbital Engine Corp. The
    production model will use a derivative of this engine.

    The new budget car would be built at ZiL's Likhachev plant in Moscow
    at a rate of 150,000 units annually. Production could begin within
    two years, according to Venture, with a likely sticker price of
    $4,590. Venture said it would use Russian suppliers and sharply limit
    electronics content to control costs. The deal puts family owned
    Venture into the vehicle production business. The company has sales
    of about $2.7 billion annually.

    Until now, Venture has specialized in producing injection-molded
    plastic auto components. Products include interior systems, cockpit
    modules, front-end systems and panels.

    German plastic parts supplier Peguform, the Venture subsidiary,
    supplies interior fittings for the Porsche 911 and Boxster.

    Two years ago, Venture and Matra Automobile of France agreed to make
    components jointly for the Renault Espace and Avantime at Matra's
    plant in Theillay, France.

    Venture is believed to be interested in buying Matra. The French
    conglomerate Lagardere is trying to sell Matra and last month asked
    French investment bank Natexis for help in its disposal.

    Last year OEC made this announcement.

    A reminder of the OEC release last yr.

    30 March 2001

    ORBITAL POWERPLANT CHOSEN FOR LOW COST RUSSIAN VEHICLE

    PERTH, AUSTRALIA: In response to an article released overnight on
    http://just-auto.com, Orbital today confirmed that Venture Industries
    Inc, a US auto engineering and materials specialist, has selected the
    direct injected two-stroke Orbital Combustion Process (OCP) engine as
    the powerplant for a project to build a mass produced vehicle for the
    Russian market. The selection follows detailed testing in Moscow of
    an Orbital supplied prototype engine.


    The engine is a derivative of Orbital's 1.2 litre direct injected two-
    stroke, 3-cylinder engine used in the "Genesis" fleet trial. In 1996
    Orbital released one hundred Ford Festiva vehicles fitted with OCP
    engines into the Australian market to demonstrate the merits of the
    technology. The fleet accumulated over five million kilometres with
    strong user acceptance and excellent in-field performance.


    Working under the direction of the City of Moscow, Russian car maker
    OAMO ZiL and Venture are planning an investment of US$250 million to
    manufacture 150,000 cars and 300,000 engines per year with a start of
    production targeted for 2004. The extra engines are earmarked for
    sale to other car manufacturers in the region. OAMO ZiL is a well-
    established Russian truck and vehicle manufacturer with extensive
    capabilities and production facilities in Moscow.


    "The selection by Venture and ZiL of Orbital's two-stroke direct
    injection technology is a further endorsement of its competitiveness
    and attractiveness in emerging markets", said Mr. Ken Johnsen,
    Orbital's Executive Director of Business Development.
    "As well as the proven performance of the engine, its simplicity and
    low cost is a big attraction in Russia where most cars sell for less
    than US$10,000. Compared with conventional multi-point fuel injected
    four-stroke automotive engines, an OCP direct inject two-stroke
    engine can have up to 40 per cent fewer parts and be up to 30 per
    cent lower in cost to manufacture."


    "Orbital is pleased with the selection of its powertrain and the
    opportunity this presents to launch product in the automotive sector
    in Russia. While project financing and operational aspects are put
    into place over the next few months, Orbital will be working to
    secure technology transfer and engineering services agreements with
    these companies to facilitate our support of the Russian project."


    Venture Industries is a US$2.3 billion enterprise employing more than
    13,000 people in 51 facilities around the world and provides a unique
    set of services to the global automotive industry encompassing:
    concept, styling and design, prototype development, tooling,
    manufacture and assembly and sequencing and logistics. Venture is a
    leading component and systems supplier to automotive manufacturers
    such as Ford, General Motors, DaimlerChrysler, Nissan, Isuzu, Jaguar,
    Renault, Peugeot, Fiat, Audi, BMW, Porsche, SEAT, Skoda, Volkswagen
    and Volvo.


    Orbital is a leading international developer of engine technologies
    using direct in-cylinder fuel injection and lean-burn systems for
    enhanced fuel economy and lower emissions. The company serves the
    worldwide automotive, marine, recreational and motorcycle markets.
    Headquartered in Perth, Western Australia, Orbital stock is traded on
    the Australian Stock Exchange (OEC), the New York Stock Exchange (OE)
    as well as the Berlin (ORE) and Frankfurt (OREA) Exchanges.


    Regards

    Desmond
 
watchlist Created with Sketch. Add OEC (ASX) to my watchlist
(20min delay)
Last
34.5¢
Change
-0.005(1.43%)
Mkt cap ! $26.76M
Open High Low Value Volume
34.5¢ 34.5¢ 34.5¢ $560 1.624K

Buyers (Bids)

No. Vol. Price($)
1 7376 34.5¢
 

Sellers (Offers)

Price($) Vol. No.
35.0¢ 91740 1
View Market Depth
Last trade - 15.55pm 24/01/2020 (20 minute delay) ?
OEC (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.