Contract Win
June 15 2009 - 1:00AM
UK Regulatory
TIDMCINP
RNS Number : 8586T
Cinpart PLC
15 June 2009
Embargoed Release: 07:00hrs, Monday 15 June 2009
CINPART PLC
('Cinpart', the 'Company' or the 'Group')
Significant Contract Win
Cinpart, the AIM-quoted electrical products manufacturer and supplier, announces
that its subsidiary Active Energy Limited ('Active Energy'), has secured a
contract for the supply and installation of a number of its voltage optimisation
VoltageMaster units throughout the UK to a well known leading international
retailer and manufacturer of affordable home products (the 'Customer'). The
contract, valued at GBP1.18 million, is to be supplied and installed in
conjunction with SDC Industries Ltd ('SDC'), a minority shareholder in Active
Energy. Installation of the VoltageMaster units is expected to be completed
during the third quarter of 2009.
Active Energy owns the rights, intangible assets and intellectual property of
VoltageMaster, a range of voltage optimisation equipment that reduces voltage
usage in commercial buildings and, therefore, energy consumed, by up to 20
percent. The VoltageMaster, a sophisticated but easy to install device that can
be adapted to complement existing infrastructures, optimises the voltage used in
a building by regulating the incoming supply of electricity to produce a
constant output of 220 volts to the whole building. In addition, the reduced
energy consumption produced by the VoltageMaster results in reduced carbon
emissions. In the UK a new, legally binding climate change and energy saving
scheme called the Carbon Reduction Commitment has been introduced, which affects
large business and public sector organisations.
The Carbon Reduction Commitment is described by the Department for Environment,
Food and Rural Affairs in the UK as "an innovative climate change and energy
saving scheme for the UK. It will encourage improvements in energy efficiency
which can save organisations money. The scheme has been designed to generate a
shift in awareness in large organisations especially at senior level, and to
drive changes in behavior and infrastructure." The directors of Cinpart believe
that this initiative will be of significant benefit to the Company.
The contract win represents a significant step in establishing the reputation
and potential of Active Energy, which commenced operations in March 2009, as
the Customer, a well known leading international retailer, operates numerous
stores throughout the UK which are substantial users of energy.
The Group is also in advanced discussions with a number of local government
authorities, purchasing authorities and major companies for the supply and
installation of VoltageMaster units.
Kevin Baker, Cinpart's chief executive officer, commented:
"Active Energy's contract win with a major multinational home products retailer
highlights the tremendous prospects for our subsidiary - which only commenced
operations in March 2009. We are confident that further contracts for the
VoltageMaster with local authorities, large retailers and users of sizeable
commercial and industrial premises will be forthcoming, as the regulatory
environment surrounding carbon emission reductions in commercial buildings
tightens considerably and energy costs, as predicted, rise over the medium and
longer term."
-ENDS-
Enquiries:
+--------------------------------------+--------------------------------------+
| Cinpart | Tel: 020 3176 3033 |
| Kevin Baker, Chief Executive | Tel: 020 3176 3031 |
| Christopher Foster, Executive | |
| Director | |
| | |
+--------------------------------------+--------------------------------------+
| John East & Partners Limited, a | |
| subsidiary of Merchant Securities | |
| Plc (Nominated Adviser) | |
+--------------------------------------+--------------------------------------+
| John East/Simon Clements | Tel: 020 7628 2200 |
| | |
+--------------------------------------+--------------------------------------+
| Rivington Street Corporate Finance | |
| Limited (Broker) | |
+--------------------------------------+--------------------------------------+
| Monisha Varadan | Tel: 020 7562 3389 |
| | |
+--------------------------------------+--------------------------------------+
| Hansard Group (Public Relations) | |
+--------------------------------------+--------------------------------------+
| Vikki Krause | Tel: 020 7245 1100 |
| Chris Roberts | |
+--------------------------------------+--------------------------------------+
About Cinpart:
Cinpart plc (AIM:CINP) is a designer, manufacturer and supplier of electrical
components. The Group owns a manufacturing facility in Thailand and operates
through its wholly owned subsidiaries Gasignition Limited; a supplier of
electrical components to small and medium-sized European gas appliance
manufacturers, Derlite Co Limited; an international manufacturer of electrical
and non-electrical components, and Active Energy Limited, the 65 per cent. owned
manufacturer and supplier of the VoltageMaster, a device that can reduce
electricity consumption in commercial buildings by up to 20 per cent.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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