Memorandum of Understanding with SEC
February 01 2010 - 3:39AM
UK Regulatory
TIDMCINP
RNS Number : 4337G
Cinpart PLC
01 February 2010
1 February 2010
CINPART PLC
('Cinpart' or the 'Company')
Memorandum of Understanding with Southern Electric Contracting
Cinpart plc (AIM:CINP), is pleased to announce that Active Energy Limited
("Active Energy"), its subsidiary company, has signed a Memorandum of
Understanding ("MoU") with Southern Electric Contracting Limited ("SEC") a
wholly owned subsidiary of Scottish and Southern Energy plc (LSE:SSE). The MOU
includes, amongst other things, the commercial terms relating to the marketing,
sale and installation by SEC of Active Energy's VoltageMaster product as the
preferred voltage optimisation device for its commercial clients.
Southern Electric Contracting is one of the largest mechanical and electrical
contractors in the United Kingdom operating from 63 regional offices and
employing approximately 4,000 experienced engineers and electricians nationwide.
The MOU also provides that SEC will become Active Energy's preferred
installation sub contractor.
The VoltageMaster reduces energy consumption, providing cost and associated
carbon emission reductions of, on average, 13 per cent per annum
Christopher Foster, Director of Cinpart, commented:"We are delighted that Active
Energy has signed the MoU with SEC as it will provide a significantly enhanced
sales network, helping Active Energy to reach its target market. VoltageMaster
assists businesses in meeting the targets laid down by the Government concerning
better energy management and reduction of emissions whilst also reducing their
energy bills. We look forward to working with the SEC team in order to help
them deliver part of their green energy agenda."
-ENDS-
Enquiries:
+------------------------------------------------+-------------------------------------------------+
| Cinpart Plc | |
+------------------------------------------------+-------------------------------------------------+
| Kevin Baker, Chief Executive | Tel: 020 3176 3033 |
| Christopher Foster, Executive Director | Tel: 020 3176 3031 |
| | |
+------------------------------------------------+-------------------------------------------------+
| Merchant John East Securities Limited (Nominated Adviser) |
+--------------------------------------------------------------------------------------------------+
| John East/Simon Clements | Tel: 020 7628 2200 |
| | |
+------------------------------------------------+-------------------------------------------------+
| Mirabaud Securities LLP (Joint Broker) |
+--------------------------------------------------------------------------------------------------+
| Rory Scott | Tel: 020 7878 3360 |
| | |
+------------------------------------------------+-------------------------------------------------+
| Rivington Street Corporate Finance Limited (Joint Broker) |
+--------------------------------------------------------------------------------------------------+
| Dru Edmonstone | Tel: 020 7562 3389 |
| | |
+------------------------------------------------+-------------------------------------------------+
| Hansard Group (Public Relations) | |
+------------------------------------------------+-------------------------------------------------+
| Kirsty Corcoran/Justine James | Tel: 020 7245 1100 |
| | |
+------------------------------------------------+-------------------------------------------------+
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.
About Southern Electric Contracting
Scottish and Southern Energy plc's contracting business, Southern Electric
Contracting, is one of the country's leading mechanical and electrical
contractors. The company is built on a foundation of quality, safety and good
planning and offers a very wide range of services. Offering national coverage
with local expertise and delivering energy efficient solutions and renewable
generation projects to a range of business sectors and communities.
http://www.sec.eu.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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