RCM Technologies, Inc. Announces Acquisition of Thermal Kinetics
November 15 2018 - 1:45PM
RCM Technologies, Inc. (NasdaqGM: RCMT) announced today the
acquisition of Thermal Kinetics, an established Buffalo-based
engineering company providing full service process equipment
supply, engineering, development and design services for
construction and industrial customers. The purchase of
Thermal Kinetics, structured as an asset purchase, will complement
and expand RCM’s Engineering services offerings and provide all of
our customers with a stronger depth of experienced engineering
resources and capabilities.
“We are very pleased to welcome Thermal Kinetics
into the RCM family,” commented Frank Petraglia, President of
Engineering Services for RCM. “This acquisition will build
and strengthen RCM’s reputation as a premier single-source provider
of engineering and technology solutions, having a strong customer
focus and offering an integrated suite of services. Thermal
Kinetics has built an outstanding reputation for providing core
technologies, design and process operations. We are confident
that their suite of services will complement what RCM already
provides.”
Thermal Kinetics is a key technology and
development partner, which for nearly twenty years has provided
engineering services on construction and industrial processes. At
the forefront of new techniques and technologies, Thermal Kinetics
is dedicated to providing environmentally friendly, energy-saving
solutions. Thermal Kinetics engineers and builds optimal
thermal integrations and unique separations approaches for
industrial processes and equipment. Their clients are primarily in
the chemical, oil and gas, renewable fuels, pharmaceutical, and
industrial manufacturing industries.
The RCM engineering division’s core business
mission is to continue its strategic transformation designed to
focus on providing our customers complete engineering, procurement
and construction (EPC) solutions. With Thermal Kinetics
joining the team, we can now offer our combined suite of
capabilities and services to our global list of clients. Both
companies pride themselves on being a solution provider and helping
customers optimize their assets and returns.
Christopher Brown, President of Thermal
Kinetics, said: “By joining RCM, we gain strong leadership, vast
experience, rapid scalability and international delivery capability
that will help us meet client needs and continue to grow.
Like our company, RCM is solution focused and driven by innovation.
We are excited about our future together.”
About RCMRCM
Technologies, Inc. is a premier provider of business and technology
solutions designed to enhance and maximize the operational
performance of its customers through the adaptation and deployment
of advanced information technology and engineering services.
RCM is an innovative leader in the design, development and delivery
of these solutions for more than 35 years. Engineering services
include aerospace, energy, life sciences and power systems. RCM
also provides IT staffing and solutions and health care staffing
services. RCM’s offices are located in Canada, Puerto Rico, Serbia
and throughout the United States. Additional information can
be found at www.rcmt.com.
The Statements contained in this release that are not purely
historical are forward-looking statements within the Private
Securities Litigation Reform Act of 1995 and are subject to various
risks, uncertainties and other factors that could cause the
Company's actual results, performance or achievements to differ
materially from those expressed or implied by such forward-looking
statements. These statements often include words such as
“may,” “will,” “expect,” “anticipate,” “continue,” “estimate,”
“project,” “intend,” “believe,” “plan,” “seek,” “could,” “can,”
“should,” “are confident” or similar expressions. In
addition, statements that are not historical should also be
considered forward-looking statements. These statements are based
on assumptions that we have made in light of our experience in the
industry, as well as our perceptions of historical trends, current
conditions, expected future developments and other factors we
believe are appropriate in these circumstances.
Forward-looking statements include, but are not limited to, those
relating to demand for the Company’s services, expectations
regarding our future revenues and other financial results, our
pipeline and potential project wins and our expectations for growth
in our business. Such statements are based on current expectations
that involve a number of known and unknown risks, uncertainties and
other factors, which may cause actual events to be materially
different from those expressed or implied by such forward-looking
statements. Risk, uncertainties and other factors may emerge
from time to time that could cause the Company’s actual results to
differ from those indicated by the forward-looking statements.
Investors are directed to consider such risks, uncertainties and
other factors described in documents filed by the Company with the
Securities and Exchange Commission, including our most recent
Annual Report on Form 10-K and subsequent Quarterly Reports on Form
10-Q. The Company assumes no obligation (and expressly disclaims
any such obligation) to update any forward-looking statements
contained in this release as a result of new information or future
events or developments, except as may be required by law.
RCM
Technologies, Inc. |
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Tel:
856.356.4500 |
Corporate
Contacts: |
2500 McClellan Avenue |
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Fax: 856.356.4600 |
Bradley S. Vizi |
Pennsauken, NJ 08109 |
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info@rcmt.com |
Executive Chairman |
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www.rcmt.com |
Kevin D. Miller |
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Chief Financial Officer |
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