December 2004

E-Mail This Article Printer-Friendly Version

Irvine, CA-based Quantum Fuel Systems Technologies Worldwide, Inc. has signed an agreement to acquire Starcraft Corp. in a stock-for-stock swap valued at about $185 million, including the assumption of debt and other considerations. Each Starcraft shareholder will receive approximately 2.34 shares of Quantum common stock for every share of Starcraft common stock. Starcraft, based in Goshen, IN is Tier One second-stage manufacturer and a maker of specialty motor vehicle equipment especially for pickup trucks and SUVs, and it supplies aftermarket parts for vehicle customization. It has strong engineering capabilities in powertrain projects and complete vehicle concepts. Contact: Quantum (media), Cathy Johnston, 949/399-4548, e-mail cjohnston@qtww.com.