UQM Technologies Names John E. Sztykiel to Board of Directors
LONGMONT, Colo. -- November 01, 2012
UQM Technologies, Inc. (NYSE MKT: UQM), a developer of alternative energy
technologies, announced today the appointment of John E. Sztykiel to the
Company’s Board of Directors effective November 1, 2012. Mr. Sztykiel will
replace Lt. General Jerome H. Granrud (U.S. Army, Ret.) who is retiring.
Mr. Sztykiel is the President and Chief Executive Officer of Spartan Motors,
Inc. (Nasdaq:SPAR) and a member of Spartan’s board of directors. Prior to his
appointment in 2002 as Spartan’s President and Chief Executive Officer, Mr.
Sztykiel was President and Chief Operating Officer of Spartan Motors, Inc. and
President of the Company’s largest subsidiary, Spartan Motors Chassis. Spartan
Motors, Inc. designs, engineers and manufactures specialty chassis, specialty
vehicles, truck bodies and aftermarket parts for the recreational vehicle,
emergency response, government services, defense, and delivery and service
markets. The Company’s brand names - Spartan™, Spartan ERV™ and Utilimaster^®
- are known for quality, performance, service and first-to-market innovation.
The company employs approximately 1,700 associates at facilities in Michigan,
Pennsylvania, South Dakota, Indiana, Florida and Texas. Spartan reported sales
of $426 million in 2011 and is focused on becoming a global leader in the
design, engineering and manufacture of specialty vehicles and chassis. Visit
Spartan Motors at www.spartanmotors.com.
“We are honored to have John join our board of directors. John’s experience as
the Chief Executive Officer of a high growth company, together with his
specialty vehicle experience and knowledge of the military market will be a
tremendous asset as we continue to expand and grow our business in the
automotive, truck, bus, specialty vehicle and military markets,” said Eric R.
Ridenour, President and Chief Executive Officer of UQM Technologies. “John is
filling the seat being vacated by Jerry Granrud who is retiring. Jerry has
served on the board since 2002 and was a member of the audit committee and the
governance and nominating committee of the board. We thank Jerry for his ten
years of dedicated and capable service to the company. His wisdom and counsel
will be greatly missed.”
UQM Technologies is a developer and manufacturer of power-dense,
high-efficiency electric motors, generators and power electronic controllers
for the automotive, commercial truck, bus and military markets. A major
emphasis for UQM is developing propulsion systems for electric, hybrid
electric, plug-in hybrid electric and fuel cell electric vehicles. UQM is
located in Longmont, Colorado.
Please visit www.uqm.com for more information.
This Release contains statements that constitute “forward-looking statements”
within the meaning of Section 27A of the Securities Act and Section 21E of the
Securities Exchange Act. These statements appear in a number of places in this
Release and include statements regarding our plans, beliefs or current
expectations, including those plans, beliefs and expectations of our officers
and directors with respect to, among other things, future orders to be
received, future shipments and payments under our Supply Agreement with CODA,
future financial results and the continued growth of the electric-powered
vehicle industry. Important Risk Factors that could cause actual results to
differ from those contained in the forward-looking statements are contained in
our Form 10-Q filed October 25, 2012, which is available through our website
at www.uqm.com or at www.sec.gov.
StreetSmart Investor Relations for UQM Technologies, Inc.
Annie Leschin, 415-775-1788
Barry Hutton, 415-775-1788
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