CUI Global Announces $1.9 Million Award by UK Network Innovation for Delivery of Gas Quality and Metering Stations within the UK's Gas Distribution Network
TUALATIN, Oregon, Sept. 6, 2016 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI) announced today that its wholly-owned United Kingdom ("UK") energy subsidiary, Orbital Gas Systems Ltd. ("Orbital"), has been awarded a £1.5 million ($1.9 million) project to manage and deliver gas quality and metering stations to one of the largest natural gas network offtakes in the UK for Scotia Gas Networks (SGN).
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SGN manages the network that distributes natural gas and green gas to 5.9 million homes and businesses across Scotland and the South of England. SGN's pipelines deliver gas safely, reliably and efficiently to every one of its customers.
The scope of this project will involve the design and installation of civil, electrical and mechanical works at a major offtake within SGN's network. Orbital has been appointed the "Principle Contractor" and will operate under the Construction (Design and Management) Regulations (2015).
"We are very pleased to have been awarded these works, which will take place at one of the most critical assets that SGN operates in the UK. It is a testament to SGN's significant trust in our operations and delivery capabilities," said Orbital's UK Sales Director Neil Stuchbury. "In addition, this award validates our knowledge and site integration competency not only from a technical, but also from a Health and Safety point of view".
CUI Global's president & CEO, William Clough added, "With this significant award Orbital continues to showcase its ability to win and deliver large scale multi-million dollar projects. Thanks to its proven track record and world class delivery, Orbital's growth and reputation in the UK natural gas industry continues to expand, reinforcing CUI Global's value proposition with further market penetration."
About CUI Global, Inc.
Delivering Innovative Technologies for an Interconnected World . . . . .
CUI Global, Inc. is a publicly traded company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies. From Orbital Gas Systems' advanced GasPT platform targeting the energy sector, to CUI Inc.'s digital power platform serving the networking and telecom space, CUI Global and its subsidiaries have built a diversified portfolio of industry leading technologies that touch many markets. As a publicly traded company, shareholders are able to participate in the opportunities, revenues, and profits generated by the products, technologies, and market channels of CUI Global and its subsidiaries. But most importantly, a commitment to conduct business with a high level of integrity, respect, and philanthropic dedication allows the organization to make a difference in the lives of their customers, employees, investors and global community.
For more information please visit www.cuiglobal.com
About Orbital Gas Systems Ltd.
Orbital Gas Systems Ltd ("Orbital") is the largest natural gas systems integrator in the United Kingdom. For over 30 years, Orbital has developed its portfolio of products, services and resources to offer a diverse range of personalized gas engineering solutions to the gas utilities, power generation, emissions, manufacturing and automotive industries. Orbital's internationally recognized expertise in the natural gas industry, including bringing together the patented VE Technology with the ground-breaking GasPT device, offers natural gas operators and users a comprehensive engineering array for the next generation of energy metering systems. Orbital is a wholly owned subsidiary of CUI Global, Inc.
For more information, please visit www.orbitalgassystems.com.
Important Cautions Regarding Forward Looking Statements
This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third-party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the company and its operations, are included in certain forms the company has filed with the Securities and Exchange Commission.
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