Turbo Power Systems Inc.
TSX : TPS
AIM : TPS

Turbo Power Systems Inc.

May 07, 2008 02:00 ET

Turbo Power Systems Announces Appointment of Paul Summers as Chief Executive Officer

CALGARY, ALBERTA--(Marketwire - May 7, 2008) - The Board of Turbo Power Systems Inc ("TPS" or "the Company") (TSX:TPS) (AIM:TPS), the innovative electrical machines and electronic systems provider, today announces that it has appointed Mr Paul Summers as Chief Executive Officer (CEO). Mr Summers will take up the role effective from 1st June 2008. As announced on 2nd May 2008, Michael Hunt, the existing CEO, will remain at the Company as Director of Business Development and will resign from the Company's Board of Directors.

Mr Summers joins TPS from the FTSE 250 listed, Ultra Electronics Group, where he served as Managing Director of Ultra's Command & Control Systems business. Paul joined Ultra in 1996 as the Business Manager responsible for their Airport Systems business and was promoted to his current role in 2001 after driving substantial growth in his previous role. Prior to joining Ultra, Mr Summers held management positions at Easams GmbH in Munich and Easams UK Ltd. He is a qualified engineer with over 20 years experience in high-tech and electronic systems companies.

Commenting on Mr Summers' appointment, Graham Thornton, Chairman, said:

"Paul has a proven track record in running high-tech manufacturing businesses with hands on experience of controlling design, manufacture, finance and sales. His experience and know-how will stand us in good stead as the Company continues its drive towards profitability and long term growth."

Under Schedule 2, paragraph (g) of the AIM Rules, the following information is disclosed in relation to Paul Summers in addition to the information above:

Full Name: Paul Thomas Summers

Age: 45 years

Directorships held in the past five years: None

Other than the information contained within this announcement, there is no further information required by Schedule 2, paragraph (g) of the AIM Rules to be disclosed with regards to Paul Summers.

About Turbo Power Systems

Turbo Power Systems Inc (AIM:TPS.L). is a leading UK based designer and manufacturer of innovative power solutions. The Group's products are all based on its core technologies of power electronics and high speed motors and generators and are sold into a number of market sectors including aerospace, rail, and various industrial sectors. The Company's products provide improved efficiency and reduced energy consumption compared to existing technologies.

Turbo Power System's existing customers include bluechip companies such as Hamilton Sundstrand, Bombardier, The National Rail Equipment Company, Eaton Aerospace and Lotus.

Contact Information

  • Turbo Power Systems
    Richard Bayliss
    +44 (0)20 8564 4460
    Website: www.turbopowersystems.com
    or
    Gavin Anderson & Company (PR)
    Ken Cronin
    +44 (0)20 7554 1400
    or
    Gavin Anderson & Company (PR)
    Michael Turner
    +44 (0)20 7554 1400
    or
    KBC Peel Hunt
    Oliver Scott
    +44 (0)20 7418 8900
    or
    KBC Peel Hunt
    Nicholas Marren
    +44 (0)20 7418 8900