Contract Win

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 £1.18 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 Kevin Baker, Chief Executive Christopher Foster, Executive Director	Tel: [phone]  Tel: [phone]
John East & Partners Limited, a subsidiary of Merchant Securities Plc (Nominated Adviser)
John East/Simon Clements	Tel: [phone]
Rivington Street Corporate Finance Limited (Broker)
Monisha Varadan	Tel: [phone]
Hansard Group (Public Relations)
Vikki Krause Chris Roberts	Tel: [phone]

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. 

 

END

 

 

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