CINP Cinpart

 

TIDMCINP 
 
RNS Number : 7826O 
Cinpart PLC 
05 July 2010 
 

5 July 2010 
AIM: CINP 
 
                                  CINPART PLC 
                          ('Cinpart' or the 'Company') 
 
                    Additional US Memorandum of Understanding 
 
Further to the announcement made by the Company on 25 June 2010 that it had 
entered into a Memorandum of Understanding with County Executives of America, 
Cinpart is pleased to announce that Active Energy Limited ("Active Energy"), its 
subsidiary company, has signed a Memorandum of Understanding ("MoU") with three 
organisations based in Ohio, USA, which relates to the establishment of an 
assembly facility in the USA as well as the promotion of Active Energy's voltage 
optimisation products. 
 
The new MoU has been signed with the County of Summit, Ohio ("Summit County"); 
the Summit County Port Authority and Northeast Ohio Trade and Economic 
Consortium.  As previously indicated, Cinpart intends to establish a US based 
assembly plant in order to service the expected demand for its voltage 
optimisation products in a cost effective location and having identified a 
suitable location, in the Foreign-Trade Zone 181 in Summit County, Ohio, these 
organisations are well placed to support this development.  All of the parties 
will assist the Company in securing financial incentives and grants related to 
the set-up of a facility in Ohio. In addition, the three organisations will 
promote the sale of Active Energy's voltage optimisation products in the US 
market.  Furthermore, Summit County also intends to introduce Active Energy to 
major public facilities under its control and to other state, county and local 
authorities and entities throughout the USA. 
 
Kevin Baker, Chief Executive of Cinpart, commented: 
 
"This agreement is a natural extension of the Memorandum of Understanding signed 
with County Executives of America, which we announced on 25 June 2010.  We 
believe that by setting up a local distribution network and an assembly plant, 
we can, in an efficient and cost effective way, service the expected demand for 
our voltage optimisation products in the USA. 
 
We look forward to working closely with Summit County, Summit County Port 
Authority and Northeast Ohio Trade and Economic Consortium to seek to take 
advantage of the exciting opportunities available to us in the USA." 
 
 
 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: 0203 372 2500           | 
|                                      |                              | 
+--------------------------------------+------------------------------+ 
| 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 percent. 
 
Other wholly owned subsidiaries in the Group include Derlite Co Limited; based 
in Thailand, this company is an international manufacturer of electrical and 
non-electrical components specializing in ignition systems for gas appliances 
and Gasignition Limited; a trading company supplying 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 
percent. The VoltageMaster, a sophisticated, easy to install device that is 
adaptable to complement existing infrastructures, optimises the voltage used in 
a building 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 
 
 MSCUUOBRRUABRAR 
 

Cinpart (LSE:CINP)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024

Cinpart (LSE:CINP)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024