CUI Global Announces Distribution Agreement between its Wholly Owned Subsidiary, Orbital Gas Systems, and Autochim for French and African Sales of its GasPT® and VE Technology® Solutions
TUALATIN, Oregon, June 13, 2016 /PRNewswire/ -- CUI Global, Inc. (NASDAQ: CUI) announced today that its wholly owned subsidiary, Orbital Gas Systems ("Orbital") has signed a Distribution Agreement with Autochim (autochim.com) a design, supply, commissioning and maintenance company based in Paris, France. The Agreement calls for distribution of CUI Global's patented natural gas technology, including the GasPT®, the GasPTi and its VE Technology®. Specifically, the agreement gives Autochim distribution rights for sale of the devices in France, and certain African Countries including: Angola, Ghana, Nigeria – also, all French speaking countries in West, Central and North Africa excepting Tunisia.
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For over thirty years, Autochim has designed, supplied, commissioned and maintained turnkey assemblies:
- for gases and liquids from the analysis,
- for the detection of combustible and toxic gases and fire,
- for extinguishing intended for the oil, gas, chemical, petrochemical and water treatment.
Autochim produces reliable technical solutions and are proven worldwide leaders in their field. The activity of Autochim is related to the protection of high-risk sites including; oil platforms, oil and gas fields, refineries, LNG terminals and gas processing plants. Large chemical and petrochemical industry companies are the sites where Autochim does business. Their focus is technical and aims for:
- the specific detection of hydrocarbon and sulfur all toxic gas;
- detection of explosive gases;
- flame detection and fire;
- extinguishing fire;
- analysis of gases and liquids for monitoring and optimizing processes, control of gas or water emissions, and the measure of industrial hygiene particularly toxic VOCs.
CUI Global's President & CEO, William Clough, commented, "By signing this agreement with Autochim, one of the most respected gas & oil service providers in Western Europe, Orbital assures itself a partner in France and elsewhere who guarantees all of our customers and potential customers the World-Class service they have come to expect from CUI Global and its affiliates."
Autochim's Managing Director, Arnaud Crosnier, stated, "Leading in innovative technologies for the Oil & Gas sector, it is a great opportunity for Autochim and Vinci Energies to expand their business in the development of the Smart Grid and serve our key customers with the unrivaled Orbital technology".
"We are very proud and quite excited about our relationship with Autochim – it is another piece of the puzzle which will allow us to broaden the market penetration for our proprietary technologies (both GasPT & VE Technology) into Western Europe, Northern Africa, and beyond," Clough concluded.
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 GasPT2 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-UK") is the largest natural gas systems integrator in the United Kingdom. For over 30 years, Orbital-UK 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-UK's internationally recognized expertise in the natural gas industry, including bringing together the patented VE-technology with the ground-breaking GasPTi device, offers natural gas operators and users a comprehensive engineering array for the next generation of energy metering systems. Orbital-UK is a wholly owned subsidiary of CUI Global, Inc.
For more information, please visit www.orbitalgassystems.com.
About Autochim
Autochim is a division of VINCI ENERGIES, which has 65,400 employees across 51 countries and in 1,600 companies. It is dedicated to the connection, performance, energy efficiency, and data in a changing world. VINCI Energies accelerates the deployment of new technologies to achieve two major changes: digital transformation and energy transition. Rooted in the territories and organized in agile mode, VINCI Energies business makes energy infrastructure, transport and communications, factories and buildings every day more reliable, safer, and more efficient.
For more information, please visit www.autochim.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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