Expanded Relationship with Yokogawa United Kingdom Ltd
CUI Global’s Subsidiary, Orbital Gas Systems Ltd., Announces Expanded Relationship with Yokogawa United Kingdom Ltd.
TUALATIN, OR – April 16, 2014 – CUI Global, Inc. (NASDAQ: CUI), a platform company dedicated to the acquisition, development, and commercialization of new, innovative products and technologies, today announced that, effective April 2, 2014, its wholly owned subsidiary, Orbital Gas Systems Ltd., has reached an agreement to expand its relationship to provide system integration capability to Yokogawa (UK) Ltd (www.yokogawa.com) for its products.
The initial agreement between Yokogawa (UK) Ltd and Orbital-UK, announced November 6, 2013, gave increased weight to Orbital-UK’s ever growing versatility and ability to work in new industry areas and with new partners and clients. That agreement called for Orbital-UK to supply various systems encompassing Yokogawa instruments to its customers in the UK.
Now, based on Orbital-UK’s performance and capabilities, that agreement has been formalized and expanded with Yokogawa (UK) Ltd. The expansion of this relationship is a testament to Orbital-UK’s 30 years of experience in providing innovative engineering solutions and its ability to consistently deliver projects on time, within budget and with unrivalled build quality. Those qualities, coupled with Yokogawa’s diverse and large range of high quality products, will ensure that end-users receive an engineered solution to meet their process requirements.
"We are very enthusiastic about our relationship with Yokogawa and their decision to expand the scope of that relationship by appointing Orbital as a system integration partner.” commented CUI Global’s president & CEO, William Clough. “This expansion reinforces our successful commitment to our customers and their individual needs and requirements.”
Neil Stuchbury, Orbital-UK’s sales director added, “This expanding partnership with Yokogawa is an excellent example of our ambition to extend our portfolio in supporting industry-leading clients like Yokogawa (UK) Ltd. The continuing partnership with Yokogawa also emphasizes Orbital’s expertise, ambition and growing reputation.”
“Yokogawa is recognized as a leading supplier of industrial automation solutions including our analysis product range, particularly the innovative GC8000 process gas chromatograph. This exciting partnership with Orbital enables us to provide our customers with enhanced solutions by utilizing the combined expertise of both companies,” explained Peter Cologne, Yokogawa (UK)’s Northern Area Sales Manager.
“This expanded relationship with Yokogawa (UK) Limited demonstrates the continuing value of the Orbital-UK acquisition. We believe that, as we expand Orbital-UK’s global market presence with partners like Yokogawa, along with the impact of the VE-Probe and GasPT2 Technologies, that acquisition will only increase our ability to grow and enhance shareholder value in the future,” Clough concluded.
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 GasPT2 platform targeting the energy sector, to CUI Inc's digital 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 are able to participate in the opportunities, revenues, and profits generated by the products, technologies, and market channels of CUI Global and its subsidiaries. But most importantly, 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
Orbital-UK is the largest natural gas systems integrator in the U.K. For over 25 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-UK’s internationally recognized expertise in the natural gas industry, including bringing together the patented VE-technology with the ground-breaking GasPTi device, offers natural gas operators and users a comprehensive engineering array for the next generation of energy metering systems.
For more information, please visit www.orbital-uk.com.
About Yokogawa Electric Corporation
Yokogawa's global network of 88 companies spans 55 countries. Founded in 1915, the $4.0 billion (USD) company conducts cutting-edge research and innovation. With its more than 19,000 employees worldwide, Yokogawa is engaged in the industrial automation and control (IA), test and measurement, and other businesses segments. The IA segment plays a vital role in a wide range of industries including oil, chemicals, natural gas, power, iron and steel, pulp and paper, pharmaceuticals, and food.
For more information, please visit www.yokogawa.com.
About Yokogawa United Kingdom Ltd.
Yokogawa United Kingdom Ltd., a wholly owned subsidiary of Yokogawa Europe BV, part of the global Yokogawa Electric Corporation, is a supplier of enterprise technology solutions to the process, manufacturing and utility sectors. The company is a technology and market leader in instrumentation and control, and holds many key patents and national and international approvals.
For more information, please visit www.yokogawa.com/uk .
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. Forward-looking statements, including statements regarding the company’s acquisition of Orbital-UK, the integration of Orbital-UK, the anticipated financial results of the combined company and the combined company’s anticipated marketing and sales efforts, are all 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, completion of the pending acquisition of Orbital-UK and the successful integration of the two businesses, 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, including the most recent annual report on Form 10-K.
CUI Global, Inc.
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