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 June, 1998
TURBODYNE TECHNOLOGIES INC.
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(Translation of registrant's name into English)
Suite 510, 1090 West Pender Street, Vancouver, BC, Canada, V6E 2N7
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(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
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[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: June 25, 1998 By: Leon E. Nowek
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/s/ Leon E. Nowek
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(Signature)*
*Print the name and title of the signing officer under his signature
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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
June 22, 1998
Item 3. Press Release
June 22, 1998
Item 4. Summary of Material Change
Turbodyne Technologies Inc. ("Turbodyne") announced it has
received the official Export-Import Bank of the United States
"Letter of interest No. L10783628XX -Russia", dated June 18,
1998, for funding of an expected purchase order of
$30,675,000.00 from Trans Business Group of Moscow, Russia.
Item 5. Full Description of Material Change
Turbodyne announced it has received the official Export-Import
Bank of the United States "Letter of interest No.L10783628XX-
Russia", dated June 18, 1998, for funding of an expected
purchase order of $30,675,000.00 from Trans Business Group of
Moscow, Russia.
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Trans Business Group informed Turbodyne in a Letter of Intent
that it intends to order a total of 10,500 Turbopac(TM)
models 1500, 2200 and 2500 for cars, buses and trucks, with
deliveries to begin during the third quarter of 1998.
Turbodyne has confirmed to Trans Business in writing the
terms and conditions of the Letter of Intent, which provides
for the issuance of a formal purchase order along with a
detailed delivery schedule.
The Letter of Intent was pursuant to successful evaluations
of Turbodyne's Turbopac(TM) units installed on Moscow city
buses, truck and passenger cars more than a year ago, and
successful certification tests at the State Scientific Centre
of the Russian Federation in the Automotive Equipment, the
Central Automobile and Automobile Engine Scientific Research
Institute (GNTS NAMI).
Trans Business Group, headquartered in Moscow, Russia, is the
premier Russian transportation services entity, employing
about 2,500 personnel in three main areas of business:
1) Transportation and forwarding services which utilizes 400
trucks, several railway and reefer terminals, bonded
warehousing and forwarding, along with automotive and truck
maintenance and service facilities; 2) Trading activity in
supermarkets, farmers markets and wholesale trading of food
products; 3) Scientific developments and introduction of
advanced American technologies into Russia. The Company has
branch offices in St. Petersburg, Russia, United States,
Finland, Germany, Belarus and Uzbekistan.
"Trans Business Group has the technological, logistical, and
financial capabilities for the introduction and widespread
distribution of Turbodyne products in Eastern Europe, and
negotiations are in progress for OEM sales of products in the
Russian Federation," said Turbodyne Chairman Edward Halimi.
"Trans Business Group will also benefit from matching grants
and consumer credit, which are available from several sources,
including the World Bank for Environmental Programs,"
continued Halimi.
"Our program with the Trans Business Group is one of
several such endeavours which we have been pursuing in the
last three years worldwide with assistance from the United
Nations Technology Group and local governmental and
environmental agencies."
"Turbodyne's recognition by the United Nations Development
Program as the only environmental product with the fuel
economy and performance improvements for worldwide use, and
the fact that Turbodyne technology is the only available
alternative for reduction of the global warming effects of the
transportation sector, has generated overwhelming interest
in our products in both the aftermarket and OEM sectors."
"This order, along with other recent achievements, including
our major OEM contract and U.S. EPA certification, is the
culmination of extraordinary and tireless
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efforts of our scientists, engineers, consultants and other
employees, which have established Turbodyne as the premier
environmental technologies company worldwide," concluded
Halimi.
Turbodyne Systems, the high technology division of Turbodyne,
manufactures, designs, markets and develops 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. Offices and plants
are located in Carpinteria, La Mirada, Encinatas and Woodland
Hills, CA; Ensenada and Mexico City, Mexico; Northants,
England, Frankfurt, Germany; Vancouver, Canada; and Paris,
France.
Turbodyne is an integrated manufacturing company specializing
in the design, manufacture and marketing of high technology
performance improvement and anti-pollution devices for
automotive, marine and industrial applications. Turbodyne's
light metal division is an accredited manufacturer of machined
permanent mold and sandcast aluminum products for the
automotive industry.
Turbodyne's integrated manufacturing capabilities also include
precision machining, electronic circuit boards, business
motors, high efficiency centrifugal fan modules and custom
alloy wheels for the automotive aftermarket. Its offices and
plants are located in Carpinteria, La Mirada, Encinitas, CA;
Ensenada, Mexico; Northants, England; Vancouver, British
Columbia; and Monchenlgadbach, Germany.
Item 6. RELIANCE ON SECTION 85(2) OF THE ACT
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Not applicable.
Item 7. OMITTED INFORMATION
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Not applicable.
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Item 8. SENIOR OFFICERS
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Mr. Walter F. Ware
President & Chief Executive 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
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The foregoing accurately discloses the material change
referred to herein.
June 25, 1998
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Date
/s/ Leon E. Nowek
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(signature)
Leon E. Nowek
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Name
Director/Vice President
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Position
Woodland Hills, California
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Place of Declaration
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