FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of March, 1998
TURBODYNE TECHNOLOGIES INC.
- ----------------------------------------------------------------------------
(Translation of registrant's name into English)
Suite 510, 1090 West Pender Street, Vancouver, BC, Canada, V6E 2N7
- -----------------------------------------------------------------------------
(Address of principal executive offices)
[Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
------- -------
[Indicate by check mark whether the registrant by furnishing the information
contained in this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes No X
------- ------
[If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):82
---------
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
TURBODYNE TECHNOLOGIES INC.
---------------------------
(Registrant)
Date: MARCH 18, 1998 By: /S/ ANDREW LEE
-------------------- ------------------------
ANDREW O.D. LEE, Secretary
(Signature)*
*Print the name and title of the signing officer under his signature
<PAGE>
THIS IS THE FORM OF MATERIAL CHANGE REPORT REQUIRED UNDER SECTION 85(1) OF THE
SECURITIES ACT.
FORM 27
- -------
SECURITIES ACT
- --------------
MATERIAL CHANGE REPORT UNDER SECTION 85(1) OF THE ACT
ITEM 1. REPORTING ISSUER
----------------
TURBODYNE TECHNOLOGIES INC.
Suite 510, 1090 West Pender Street
Vancouver, British Columbia V6E 2N7
Telephone: 604-682-8854
Facsimile: 604-688-8621
ITEM 2. DATE OF MATERIAL CHANGE
-----------------------
March 16, 1998
ITEM 3. PRESS RELEASE
-------------
March 16, 1998
ITEM 4. SUMMARY OF MATERIAL CHANGE
--------------------------
Turbodyne Technologies Inc. ("Turbodyne") had named Walter F. Ware as
its President and Chief Executive Officer. Mr. Edward Halimi will
continue his responsibilities as Chairman of the Board of Directors.
ITEM 5. FULL DESCRIPTION OF MATERIAL CHANGE
-----------------------------------
Turbodyne had named Walter F. Ware as its President and Chief
Executive Officer. Mr. Edward Halimi will continue his
responsibilities as Chairman of the Board of Directors.
"Mr. Ware's appointment is well-deserved. He has demonstrated
exceptional leadership since joining Turbodyne five months ago," said
Mr. Halimi, who is also the inventor of the patented Turbodyne
System. "In the short time Walt has been with the company, he has
led a rapid transition out of the product development stage by
establishing a solid management structure with expertise in
engineering, manufacturing, sales and marketing, and finance. He is
also creating key customer relationships for Turbodyne, resulting in
commercial orders and positioning the company for continued global
expansion and profitable growth."
Page 2
<PAGE>
"I am confident that Walt's extensive management experience and
relationships in the industry will prove highly effective for
Turbodyne's long-term growth and expansion," Mr. Halimi concluded.
John P. Singleton, Turbodyne's Chief Financial Officer, will take on
additional responsibility as Chief Operating Officer, in support of
Mr. Ware in his new role. Mr. Singleton will oversee finance and
treasury, administration, contracts, legal, information systems,
investor relations and human resources.
Mr. Ware joined Turbodyne last October as Chief Operating Officer and
Executive Vice-President of Turbodyne, as well as President and CEO
of Turbodyne Systems, Inc., a subsidiary. He will now oversee
worldwide operations, including manufacturing, engineering, sales,
marketing, technical services, worldwide distribution and support,
and joint ventures.
Mr. Ware has more than 30 years experience in the global automotive
industry. He most recently served as Senior Vice President and
Corporate Officer of Detroit Diesel Corporation, a Penske Company.
In addition to Detroit Diesel, Mr. Ware spent more than 20 years at
Allied Signal's Garrett Automotive Group, the leading global supplier
of turbocharging systems. At Garrett, he held a number of senior
management positions in the United States and Europe, including Chief
Technical Officer and Group Vice President, North American Automotive
Operations.
Mr. Singleton joined Turbodyne's board of directors in January 1998
and was appointed Chief Financial Officer in late February, 1998.
Prior to joining Turbodyne, Mr. Singleton held the position of Vice
Chairman and Chief Operating Officer of Security Pacific Corporation,
the fifth largest U.S. bank. His previous tenures include Vice
President and General Manager at IBM's Integrated Systems Solution
Corporation, Maryland National Bank, nine years in the aerospace
industry, and the Federal Reserve Board in Washington, DC.
Turbodyne is a start-up high technology company specializing in the
design, development, manufacture and marketing of patented pollution
reduction, fuel economy and performance enhancing technology for
internal combustion engines in the automotive, transportation,
construction, marine, agriculture, mining, military and power
generation industries. Its light metals division is a manufacturer
of precision-machined aluminum castings and a leading supplier of
engineered cast aluminum products for the automotive industry.
Offices and plants are located in Carpinteria, La Mirada, Encinitas
and Woodland Hills, CA; Ensenada and Mexico City, Mexico; Northants,
England; Frankfurt, Germany; Vancouver, Canada; and Paris, France.
ITEM 6. RELIANCE ON SECTION 85(2) OF THE ACT
------------------------------------
Not applicable.
Page 3
<PAGE>
ITEM 7. OMITTED INFORMATION
-------------------
Not applicable.
ITEM 8. SENIOR OFFICERS
---------------
Mr. Walter F. Ware, Chief Operating Officer
c/o Turbodyne Technologies Inc.
21700 Oxnard Street
Suite 1550, Warner Center
Woodland Hills, California 91367
Telephone: (800) 350-2031
Facsimile: (818) 593-2284
ITEM 9. STATEMENT OF SENIOR OFFICER
---------------------------
The foregoing accurately discloses the material change referred to
herein.
MARCH 18, 1998
- -----------------------------
Date
/S/ ANDREW LEE
- -----------------------------
(signature)
Andrew Lee
- -----------------------------
Name
Corporate Secretary
- -----------------------------
Position
Vancouver, British Columbia
- -----------------------------
Place of Declaration
