Thursday, September 06, 2012 4:57:43 PM
FARMINGTON, AR -- (Marketwire) -- 08/25/10 -- Highline Technical Innovations, Inc., (HLNT), majority shareholder of Highline Hydrogen Hybrids, announced today it has received a signed Letter Of Intent from Dong Feng Motors, China's second largest domestic auto maker.
The Letter Of Intent (LOI) addresses three different ventures in which the two companies have been in dialogue. The letter of intent addresses the formation of a joint venture with HTI's majority owned subsidiary, Hoss Motor Sports, with Dong Feng Motors to manufacture, market and distribute the Hoss UTV. The letter of intent also addresses the formation of a joint venture between HTI's majority owned subsidiary, Highline Hybrids, and Dong Feng Motors relating to implementation and production of Highline Hybrid's hydrogen generator. The third focus of the letter of intent is the formation of a joint venture between the two companies to refurbish and rebuild auto components. Highline Technical Innovations, Inc. will release details to the public of these joint ventures as they are negotiated.
CEO Charlton Coats stated, "We are very pleased with our progress. Relationships take time to build, but when they are formed, they can be very beneficial. We have posed the question many times in our office what the ramifications would be if an auto manufacturer was willing to integrate our technology into their processes. We are one step closer to this possibility. We will continue to negotiate these joint ventures while maintaining our vigilance in aggressively pursuing the OTR and agricultural markets with our hydrogen generators. The results our units are achieving in these markets simply can't be ignored."
The Hoss UTV may be viewed at http://www.hossusa.com. Information on the Wildcat hydrogen generator may be viewed at www.highlinehybrids.com.
Contact:
Charlton Coats
1-479-267-6000
c.coats@highlineinnovations.com
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