IMPCO Technologies Inc., based in Cerritos, said it plans to reorganize the company and create a new holding company, Fuel Systems Solutions Inc., which IMPCO will be a subsidiary.

After approval by shareholders and the reorganization, IMPCO will become a wholly owned subsidiary of Fuel Systems that will be based in Delaware. The company expects Fuel Systems to trade under the ticker symbol “FSYS.”

MPCO shareholders will receive one common share of Fuel Systems for every two common shares of IMPCO. Shareholders will receive cash for fractional shares. Outstanding warrants and options to buy IMPCO common shares will become warrants and options to buy one share of the new company for every two shares of IMPCO, the company said.

IMPCO said the reorganization was designed to improve customer and supplier relationships and help its growth.