BARCELONA, Spain, Sept. 20, 2018 /PRNewswire/ -- CUI Global,
Inc. (NASDAQ: CUI) announced today from the GasTech 2018 Conference
(GasTech) that its wholly-owned energy subsidiary, Orbital Gas
Systems ("Orbital" or the "Company"), has signed a definitive
Cooperation Agreement ("Agreement") with SAMSON AKTIENGESELLSCHAFT
("SAMSON") for the global sales and distribution of the Company's
proprietary GasPT®, VE Technology® and combined GasPTi analyzer.
Under the terms of the Agreement, SAMSON will distribute the
Company's solutions globally excluding North America and the U.K. and become its
exclusive distributor. The document contains specific performance
milestones, which SAMSON must achieve to become and then maintain
"exclusivity."
SAMSON, a market leader in flow control solutions for industrial
processes, is represented in over 40 countries with more than 4,000
employees, more than 50 subsidiaries and over 200 representatives
worldwide. Founded in 1907 and based in Frankfurt, Germany, SAMSON develops
measurement and control technologies such as regulators, and
control valves for industries including energy, chemical, and food
and beverage industries. A leader in manufacturing control valves
for process automation, the company is developing new smart systems
that transform process automation to the benefit of its customers
and to achieve greater flexibility, safety and reliability in
industrial processes. Orbital's proprietary technology fits
SAMSON's continuing drive to offer leading edge flow control
solutions.
"This Agreement is reflective of our continuing ability to drive
market adoption of our gas technology solutions," stated
William Clough, president and CEO of
CUI Global. "In SAMSON we have secured a global partner whose
established presence in energy markets worldwide can open
additional opportunities for us, particularly in Russia and China. SAMSON's commitment to us recognizes
the disruptive nature of our solutions at a time when the shift to
gas as an increasingly important component of the global energy mix
gains momentum. We look forward to a successful partnership with
SAMSON."
Wolfgang Beck, director of
Modular Systems and Solutions at SAMSON, stated, "Partnering with
Orbital aligns us with a gas measurement technology that is quickly
gaining the attention of energy operators globally. This Agreement
represents another important step in SAMSON's strategy to partner
with technology innovators to the benefit of our customers."
About CUI Global, Inc.
Delivering Innovative
Technologies for an Interconnected World . . . . .
CUI
Global, Inc. is a publicly traded company dedicated to maximizing
shareholder value through the acquisition and development of
innovative companies, products and technologies. From Orbital Gas
Systems' advanced GasPT® platform targeting the energy sector, to
CUI Inc.'s advanced power platform serving the networking and
telecom space, CUI Global and its subsidiaries have built a
diversified portfolio of industry leading technologies that touch
many markets. As a publicly traded company, shareholders can
participate in the opportunities, revenues, and profits generated
by the products, technologies, and market channels of CUI Global
and its subsidiaries. But most important, a commitment to conduct
business with a high level of integrity, respect, and philanthropic
dedication allows the organization to make a difference in the
lives of their customers, employees, investors and global
community.
For more information please visit: www.cuiglobal.com
About Orbital Gas Systems
Orbital Gas Systems,
(Orbital) has offices in the United
Kingdom and Houston,
Texas. For over 30 years, Orbital has developed its portfolio
of products, services and resources to offer a diverse range of
personalized gas engineering solutions to the gas utilities, power
generation, emissions, manufacturing and automotive
industries. Orbital's internationally recognized expertise in
the natural gas industry, including bringing together the patented
VE Technology® with the ground-breaking GasPT device,
offers natural gas operators and users a comprehensive engineering
array for the next generation of energy metering systems.
Orbital is a wholly owned subsidiary of CUI Global, Inc.
For more information, please visit: www.orbitalgas.com
About SAMSON
SAMSON offers products and systems to
control all kinds of media. We specialize in control valve
engineering. As a trendsetter for over 100 years, we drive forward
new developments and introduce innovations to the market. We have
had a considerable impact on the evolution of valves from analog
components to smart control valves. We are now fully focusing on
the opportunities provided to us through Industry 4.0.
For more information, please visit: www.samson.de/en
Important Cautions Regarding Forward Looking
Statements
This document contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Such statements are subject to risks and
uncertainties that could cause actual results to vary materially
from those projected in the forward-looking statements. The company
may experience significant fluctuations in future operating results
due to a number of economic, competitive, and other factors,
including, among other things, our reliance on third-party
manufacturers and suppliers, government agency budgetary and
political constraints, new or increased competition, changes in
market demand, and the performance or reliability of our
products. These factors and others could cause operating
results to vary significantly from those in prior periods, and
those projected in forward-looking statements. Additional
information with respect to these and other factors, which could
materially affect the company and its operations, are included in
certain forms the company has filed with the Securities and
Exchange Commission.
External Media
Contact:
|
External Investor
Relations contact:
|
Foster
Marketing
|
LHA Investor
Relations
|
Tiffany
Harris
|
Sanjay M.
Hurry
|
337-278-1097
|
212-838-3777
|
tharris@fostermarketing.com
|
cuiglobal@lhai.com
|
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