LAVERNIA, TX — PowerCold Corp. has signed a letter of intent to acquire Alturdyne, Inc., a San Diego-based manufacturer of diesel, natural gas, turbine, and rotary generator sets.

According to PowerCold, Alturdyne has developed, packaged, and installed over 4,000 engine power units around the world.

Specific terms were not disclosed. Under the proposed agreement, PowerCold would acquire all of Alturdyne’s assets and intellectual property. Alturdyne would then operate as an independent wholly owned PowerCold subsidiary. The anticipated completion date of the acquisition is May 31, 2002.

Publication date: 04/22/2002