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CDTI announced that it has become Honda's Accord catalyst supplier. |
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Released on Monday, July 30, 2012, 10:00 PM ET
Pittsburgh, PA (SpeculatingStocks) - Clean Diesel Technologies, Inc. (NASDAQ:CDTI), a manufacturer and distributor of emissions control systems and products, announced today that it has begun supplying catalysts for next-generation four- and six-cylinder Honda Accord models.
Looking forward, CDTI expects to announce more programs for Honda vehicles as it continues close collaboration with Honda.
To be Honda's catalyst supplier is a great validation of what CDTI has been doing. Honda has placed its confidence in Clean Diesel Technologies. CDTI traded over 3 million shares on the news, many times average volume of 140k, and closed up $0.42 to $2.52 or 20%.
CDTI has grown revenue from $50 million in 2009 to $61 million in 2011. The company has yet to become profitable and its chart has been in a downtrend; however, CDTI's relationship with Honda is powerful for its stock.
It will be interesting to see if CDTI can uptrend from its 20% surge over this week.
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