CINP Cinpart

 

TIDMCINP 
 
RNS Number : 5787K 
Cinpart PLC 
22 April 2010 
 

                                                                   22 April 2010 
                                  CINPART PLC 
                          ('Cinpart' or the 'Company') 
 
                                 Trading Update 
 
Cinpart (AIM:CINP), which supplies cutting-edge voltage optimisation technology 
to reduce the energy consumption and CO2 emissions of commercial buildings by up 
to 20 per cent., is pleased to provide the following update on trading prior to 
announcing its full year results in May 2010. 
 
The results for the year ended 31 December 2009 are expected to be in line with 
market expectations. 
 
During 2009, the Company's coresubsidiary, Active Energy Limited ("Active 
Energy"), established a strong base on which to build its presence in the 
voltage optimisation market.  The Directors believe that the growth potential 
for Active Energy's product, VoltageMaster, is significant, estimating that up 
to 400,000 large buildings in the UK alone could reduce their energy consumption 
via voltage optimisation, and the foundations put in place in 2009 represent an 
excellent start for Active Energy. 
 
In addition, the Company's legacy businesses, Gasignition Limited, a supplier of 
electrical components to small and medium-sized European gas appliance 
manufacturers and Derlite Co Limited, an international manufacturer of 
electrical and non-electrical components, produced a creditable trading 
performance in a very challenging market. 
 
The Company has continued to make progress in the current financial year and 
trading remains in line with expectations, underpinned by the Voltagemaster 
installation programme which commenced following several major contract wins, 
secured over the past 12 months, and the strategic relationship with Southern 
Electric Contracting Limited ("SEC"), a wholly owned subsidiary of Scottish and 
Southern Energy plc, announced on 1 February 2010.  The partnership with SEC, 
one of the largest mechanical and electrical contractors in the UK, has already 
proved beneficial in supporting the installation, in accordance with a very 
tight timetable, of VoltageMaster units across 52 Courts under the Ministry of 
Justice contract, which was announced in February 2010. Active Energy is SEC's 
preferred voltage optimisation technology provider for its commercial clients, 
which brings exciting new sales opportunities. 
 
Given the scope of the opportunities available to Active Energy, the Company has 
strengthened its senior management team with two recent appointments.  Jeremy 
Lancaster has been appointed as CEO of the Active Energy subsidiary in order to 
accelerate the ongoing development of the business.  Jeremy has over 25 years' 
experience in senior management roles, including most recently managing the UK 
Region Electricity Division of Elster Group, the world leader in advanced 
metering infrastructure to the gas, electricity and water industries. In 
addition, Jonathan Beachey has been appointed as Sales Director at Active Energy 
with responsibility for driving the sales pipeline.  Jonathan, who has some 15 
years' experience in sales and business development, joins from Hays plc where 
he was responsible for the sales strategy in London and developing new growth 
markets. 
 
Cinpart is also pleased to announce that it has appointed several new advisers 
to support its growth plans.  Jendens Securities Limited ("Jendens") has been 
appointed to act as joint broker to the Company with immediate effect to work 
alongside Rivington Street Corporate Finance Limited and the Company's Nominated 
Adviser, Merchant John East Securities Limited. Biddick Associates has been 
appointed as Financial Public Relations adviser. 
 
Enquiries: 
 
+--------------------------------------+------------------------------+ 
| Cinpart Plc                          |                              | 
+--------------------------------------+------------------------------+ 
| Kevin Baker, Chief Executive         | Tel: 020 3176 3033           | 
| Christopher Foster, Executive        | Tel: 020 3176 3031           | 
| Director                             |                              | 
|                                      |                              | 
+--------------------------------------+------------------------------+ 
| Merchant John East Securities Ltd    |                              | 
| (Nominated Adviser)                  |                              | 
+--------------------------------------+------------------------------+ 
| John East/Simon Clements             | Tel: 020 7628 2200           | 
|                                      |                              | 
+--------------------------------------+------------------------------+ 
| Jendens Securities Ltd (Joint        |                              | 
| Broker)                              |                              | 
+--------------------------------------+------------------------------+ 
| Kim Richardson                       | Tel: 020 7266 2152           | 
|                                      |                              | 
+--------------------------------------+------------------------------+ 
| Rivington Street Corporate Finance   |                              | 
| Ltd (Joint Broker)                   |                              | 
+--------------------------------------+------------------------------+ 
| Peter Greensmith                     | Tel: 020 7562 3370           | 
|                                      |                              | 
+--------------------------------------+------------------------------+ 
| Biddicks (Financial PR)              |                              | 
+--------------------------------------+------------------------------+ 
| Sophie Lane/ Zoë Biddick             | Tel: 020 7448 1000           | 
|                                      |                              | 
+--------------------------------------+------------------------------+ 
 
 
About Cinpart: 
 
Cinpart plc (AIM: CINP) is a holding company that owns 72.2 percent of Active 
Energy Limited. Active Energy manufactures and supplies the VoltageMaster, a 
device that can reduce electricity consumption in commercial buildings by up to 
20 per cent. 
 
The Group also has several wholly-owned subsidiaries including Derlite Co 
Limited, which manufactures components specialising in ignition systems for gas 
appliances, and Gasignition Limited, which supplies electrical components to 
small and medium-sized European gas appliance manufacturers. 
 
About Active Energy: 
 
Active Energy owns the rights, intangible assets and intellectual property of 
VoltageMaster, a range of voltage optimisation equipment for commercial 
buildings that reduces voltage, and consequently energy consumed, by up to 20 
per cent. The VoltageMaster, a sophisticated, easy to install device that is 
adaptable to complement existing infrastructures, optimises the voltage used by 
adjusting the electricity voltage supplied to the whole building. In addition, 
the reduced energy consumption produced by the VoltageMaster provides reduced 
carbon emissions. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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