Electric Motors Corporation, a Colorado corporation formerly known as Optimax Industries, Inc. (EMCO.PK), announced that it has acquired all of the issued and outstanding shares of stock of Electric Motors Corporation, a California corporation ("EMC"), a privately held company specializing in development and manufacture of electric power drive systems for electric and hybrid vehicles. Upon completion of the acquisition the Company's name was changed and its new trading symbol was assigned by the NASD. Trading of the Company's common stock will continue under the symbol EMCO.
EMC CEO Wil Cashen noted the company's excitement over the new opportunities presented by operating in a public platform. Cashen said, "As Electric Motors Corporation moves into the pre-assembly stage of its electric automobile drive train systems, the new corporate structure opens the door for a broader investor base. Investor interest in green energy in general and the electrification of automobiles in specific has never been higher."
About EMC: Electric Motors Corporation (EMC) develops and manufactures electric power drive systems for electric vehicles for EMC brand and other various manufacturer brand cars and light duty trucks. EMC utilizes proprietary electric drive system technology and methodology of compounding motor-generators, EMC flex-fuel motors and energy control/management/storage systems to greatly reduce parasitic power train losses that significantly improve fuel efficiency and deliver cleaner emissions. EMC's power drive technology is clean, efficient, safe and reliable and simple to apply to vehicles produced currently and future electric plug-in and/or hybrid models. EMC electric power drive systems generate drive energy or charging energy that efficiently increases the vehicle total drive range for long distances. EMC's mission is to become the first independent company to mass-produce cost-competitive power-train systems for hybrid and electric vehicles and therefrom design, produce and sell company branded truck and car models internationally with superior performance and design advantage.