SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 2, 1999
TURBODYNE TECHNOLOGIES INC.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-21391 95-4699061
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
21700 Oxnard Street, Suite 1550
Woodland Hills, CA 91367
(Address of Principal Executive Offices)
(818) 593-2282
(Registrant's Telephone Number)
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ITEM 5. OTHER EVENTS
Reference is made to Registrant's press releases issued on July 2, 1999
and July 7, 1999, which contain information meeting the requirements of this
Item 5, and which are incorporated herein by this reference. Copies of the press
releases are attached to this Form 8-K as Exhibits 99.1 and 99.2.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
July 12, 1999 TURBODYNE TECHNOLOGIES INC.
By:
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Khal A. Kader
Chief Financial Officer
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EXHIBIT INDEX
EXHIBITS PAGE NUMBER
99.1 Press Release dated July 2, 1999.
99.2 Press Release dated July 7, 1999.
Page 1
EXHIBIT 99.1
WOODLAND HILLS, CA - JULY 2, 1999 - The Board of Directors of Turbodyne
Technologies Inc. (EASDAQ: TRBD) announced today that it has appointed
Professor Dr. Dipl.-Ing. Peter Hofbauer as Chief Executive Officer of the
Company. This appointment complements and acknowledges Dr. Hofbauer's recent
activities for Turbodyne as General Director, Technologies of Turbodyne
Europe and as President of the Propulsion Research Institute. Dr. Hofbauer's
appointment arose as a strategic consequence of his contribution to and
creation of further perspectives for the Turbodyne Technology and of his
standing and reputation with original equipment manufacturers and the
automotive suppliers on a global scale.
Prior to joining Turbodyne, Dr. Hofbauer had dedicated twenty years of his
professional career to Volkswagen AG, Wolfsburg, Germany, where for ten years he
was Head of Engines and Transmissions Development. In this position he
initiated, developed and put into mass production VW and Audi diesel engines,
and predeveloped the new generation of diesel engines with direct injection that
has become a mainstay in passenger car engines. His tenure at Volkswagen was
followed by appointments as a Member of the Board of Pierburg GmbH, Neuss,
Germany, KHD AG (now: Deutz Motors), Cologne, Germany and Viessmann Werke
GmbH&Co, Allendorf, Germany. For his work at Viessmann he was awarded the German
Federal Innovation Award and the German and the European Industry Environment
Award for a flameless, emissionfree burner. Dr. Hofbauer joined Turbodyne in
January of 1998.
Dr. Hofbauer holds a Master of Science in Mechanical Engineering from the
Technical University in Vienna, Austria and a Doctorate in Mechanical
Engineering from the RWTH Aachen, Germany. The Minister for Science and Art
of Lower Saxonia, Germany, recognized his teaching achievements by appointing
Dr. Peter Hofbauer as Honorary Professor in 1985.
Mr. Walter F. Ware, formerly CEO of Turbodyne, has resigned for personal
reasons, but will continue to contribute his expertise to Turbodyne as a
Member of the Board of Directors.
Turbodyne Systems, the Engine and Pollution Technology Division of Turbodyne,
designs, develops, manufactures and markets patented pollution-reduction, fuel
economy and performance enhancing products for internal combustion engines in
the automotive, transportation, construction, marine, agriculture, mining,
military and power generation industries. Turbodyne's Light Metals Division is a
manufacturer of machined aluminum castings and a leading supplier to the
automotive industry.
Turbodyne Technologies Inc. maintains offices and/or plants located in
Carpinteria, La Mirada, Encinitas and Woodland Hills, California; New York,
New York; Ensenada and Mexico City, Mexico; Paris France; and Frankfurt,
Germany.
Contacts:
Corporate Communications: Peter Weichselbraun, (800) 566-1130
Investor Relations: Mark White, (800) 350-2031
European Operations: Peter Kitzinski, +49-69-975-44-501
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EXHIBIT 99.2
WOODLAND HILLS, CA - JULY 7, 1999 - Turbodyne Technologies Inc. (EASDAQ: TRBD)
announced today that it has launched Turbodyne International Corporation, a
wholly owned subsidiary of Turbodyne Technologies Inc. This new subsidiary has
been established to focus on the implementation of Turbodyne`s worldwide
strategy in marketing, sales and exclusive licensing, as well as on the
establishment of distributorships and dealerships for the products of Turbodyne
Technologies on a global scale.
Heading the new company is Mr. Arthur D. Zammit, who has been appointed to the
position of President and Managing Director of Turbodyne International
Corporation.
Mr. Zammit dedicated most of his professional career to the commercial vehicle
industry, including seven years managing Ford of Europe's launch, marketing and
sales of heavy commercial vehicles from the UK, and more recently, as Managing
Director, Leyland DAF International Ltd.
In recognition of his background with both the automotive manufacturers as well
as the after-market industry, Mr. Zammit's objective is to drive the Company's
international focus on establishing strategic alliances, joint ventures and
exclusive licensing partnerships with established industry leaders worldwide.
His appointment is intended to help the expansion of the market penetration of
Turbodyne's cutting edge technology products and to maintain leadership in the
automotive and anti-pollution industries.
Turbodyne Technologies Inc., the California based high techology company,
specializes through its Engine Technology Division in the development,
manufacture and marketing of proprietary pollution control, fuel economy and
performance enhancement products for internal combustion engines in the global
automotive, transportion, construction, agriculture, marine, mining, military
and power generation industries. Turbodyne`s Light Metals Division is a
manufacturer of machined aluminum castings and a leading supplier to the
automotive industry.
Turbodyne Technologies Inc. maintains offices and/or plants located in
Carpinteria, La Mirada, Encinitas and Woodland Hills, California; New York,
New York; Ensenada and Mexico City, Mexico; Paris France; and Frankfurt,
Germany.
Contacts:
Corporate Communications: Peter Weichselbraun, (800) 566-1130
Investor Relations: Mark White, (800) 350-2031
European Business Information: Markus Kumbrink, +49-69-975-44-655
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