GasPT and VE Technology Systems Distribution Agreement
CUI Global Announces Distribution Agreement between its Wholly Owned Subsidiary, Orbital Gas Systems Ltd., and Benchmark Instrumentation & Analytical Services, Inc. for Canadian Sales of its GasPT™ and VE Technology™ Systems
TUALATIN, OR — April 2, 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 its wholly owned subsidiary, Orbital Gas Systems Ltd., through its Products Division, Orbital Global Solutions (OGS), has signed a Distribution Agreement with Benchmark Instrumentation & Analytical Services, Inc. (www.benchmarkinc.ca), a natural gas equipment distribution company based in Edmonton, Alberta, Canada. The Agreement calls for distribution of CUI Global’s patented natural gas technology, including the GasPT, the GasPTi and its VE Technology. Specifically, the agreement gives Benchmark exclusive distribution rights for sale of the devices in the country of Canada.
Benchmark Instrumentation & Analytical Services (“Benchmark”) provides and supports a range of advanced measurement products and systems across Canada. They are a leading supplier of Sampling and Analytical products to many primary sector companies to manage and control their operations. Benchmark provides engineering and design, world-class sampling and measurement products, system integration and service. Benchmark has been providing services to industrial customers for over 18 years to the following industrial market segments:
Oilsands (Surface mining and Insitu)
Oil & Gas
Power & Utilities
Chemical & Petrochemical
Pulp & Paper
Benchmark understands the role of monitoring industrial processes and is continually challenged to meet ever-increasing expectations by various stakeholders to improve productivity and monitoring capability. Benchmark strives for first position in the delivery and support of process sampling and analytical solutions.
The agreement calls for Benchmark to initially purchase thirty (30) GasPTi-P devices – two (2) GasPTi-P devices for customer demonstration to be delivered immediately and another twenty eight (28) units as inventory to be sold by Benchmark during the term of the agreement.
CUI Global’s President & CEO, William Clough, commented, “This agreement with Benchmark gives the company yet another highly respected partner in the natural gas industry and further demonstrates the viability and merit of our technologies. We expect Benchmark and its team of industry professionals to become a key component of our growing North American distribution network.”
Benchmark’s VP of Business Development, Tod Martens stated, “We are excited to represent CUI Global and their patented VE-technology with the ground-breaking GasPT device, which we believe it will help our natural gas operators meet the growing sampling and measurement challenges they face in our rapidly changing market.”
Clough concluded, “Benchmark is a leading provider of analytical equipment to the rapidly growing Canadian natural gas industry, including such industry icons as TransCanada and others. We welcome Benchmark as a representative of the CUI Global natural gas product portfolio.”
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 Benchmark Instrumentation & Analytical Services
Benchmark is a leading supplier of Sampling and Analytical products in Canada. We serve the Refining, Petrochemicals & Chemicals, Oil & Gas, Pulp & Paper, Power, Cement, Inspection, Mining, and Environmental industries.
For more information, please visit www.benchmarkinc.ca
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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