IMPCO Technologies Inc. (Cerritos, CA) said that it expects to complete the spin-off its Quantum Fuel Systems Technologies Worldwide Inc. (Irvine, CA) unit during the second quarter. IMPCO said last June that it planned to spin off the division through a tax-free distribution of Quantum stock to IMPCO shareholders by the end of 2001.
The spin-off is subject to a number of conditions. After the spin-off, IMPCO will focus its business on the rapidly expanding alternative fuel market, while Quantum will continue to focus on the emerging fuel cell markets.
