OAK PARK, MI, May 21 /CNW/ - Azure Dynamics Corporation (TSX: AZD) - ("Azure" or the "Company"), a leading innovator in the development of environmentally friendly and cost effective hybrid electric and electric technologies for commercial vehicles, today announced that it will hold its Annual General Meeting June 9, 2009 at 4:30 p.m. at Azure's corporate headquarters, 14925 W. 11 Mile Road in Oak Park, MI 48237. The Annual General Meeting will be led by Azure CEO Scott T. Harrison and will include a presentation on the state of Azure's business and financial results for 2008 and the outlook for 2009.
Following the meeting, attendees will have an opportunity to experience select Azure products first-hand on a controlled ride and drive course. This year's AGM will also be presented via Web Cast for those who cannot attend in person. Full details of the Web Cast including the web address and log-in details will be sent one week prior to the meeting.
"Our products offer the environmental solutions that fleet operators are demanding today," said Harrison. "We are well positioned in the market and customers are coming to us. We think 2009 will be a good year and we have a story that will excite our shareholders at the meeting."
Azure, a leading developer of innovative hybrid electric and electric technologies for commercial vehicles, is a leader in the engineering and development of drive train solutions that provide up to 40% improvement in fuel economy, 30% savings in maintenance costs and a 30% reduction in greenhouse gas emissions.
For more information, please visit www.azuredynamics.com.
About Azure Dynamics
Azure Dynamics Corporation (TSX: AZD) is a world leader in the development and production of hybrid electric and electric components and powertrain systems for commercial vehicles. Azure is strategically targeting the commercial delivery vehicle and shuttle bus markets and is currently working internationally with various partners and customers. The Company is committed to providing customers and partners with innovative, cost-efficient, and environmentally friendly energy management solutions.
The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements. More particularly, this press release contains statements concerning Azure's business development strategy, projected commercial revenues and product deliveries.
The forward-looking statements are based on certain key expectations and assumptions made by Azure, including expectations and assumptions concerning achievement of current timetables for development programs, target market acceptance of Azure's products, current and new product performance, availability and cost of labour and expertise, and evolving markets for power for transportation vehicles. Although Azure believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Azure can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with Azure's early stage of development, lack of product revenues and history of losses, requirements for additional financing, uncertainty as to commercial viability, uncertainty as to product development and commercialization milestones being met, uncertainty as to the market for Azure's products and unproven acceptance of Azure's technology, competition for capital, product market and personnel, uncertainty as to target markets, dependence upon third parties, changes in environmental laws or policies, uncertainty as to patent and proprietary rights, availability of management and key personnel, and acquisition integration risk. These risks are set out in more detail in Azure's annual information form which can be accessed at www.sedar.com.
The forward-looking statements contained in this press release are made as of the date hereof and Azure undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.