TUALATIN, Oregon, Jan. 6, 2015 /PRNewswire/ -- 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., has opened a North American office and entity, Orbital Gas Systems N.A., in Houston, Texas effective January 5, 2015. The new facility, located at 2326 Campbell Road, Building B, Houston, TX 77080, will enable CUI Global and Orbital to serve the North American Energy Industry from a US facility located in the very "heart" of the industry.
Additionally, Orbital plans to begin building and assembling its proprietary VE Technology, GasPTi units and IRIS kiosks in the United States.
In conjunction with the opening of the North American Facility, Orbital has hired Fred "Rusty" Darsey as North American Sales Director and James McGinty as North American Director of Engineering. Mr. Darsey is an almost 30-year veteran of the North American Energy Industry and brings a wealth of both experience and contacts to CUI Global and its new subsidiary.
For his part, Mr. McGinty is an experienced engineer having spent 30-years working in the energy industry with such stalwarts as ExxonMobil (analyzer projects) and Siemens Applied Automation. His expertise includes technical coordination, analytical design, drafting, and field installation of large analyzer systems. Like Mr. Darsey, Mr. McGinty brings a wealth of experience and contacts in the energy industry to CUI Global and its subsidiary.
CUI Global's President & CEO, William Clough, commented, "This new office will allow CUI Global to more readily address the North American Natural Gas Industry, which is quite sensitive to having local representation. Moreover, the addition of Jim and Rusty to our organizations adds two of the most respected sales and engineering executives in North America to our team, bringing along the requisite boost in reputation, credibility, and expertise – I welcome both of these talented individuals to the CUI Global/Orbital Team."
Mr. Darsey stated, "Both Jim and I are excited to be joining the CUI Global team. We definitively believe in the unique and dynamic nature of the GasPT2, VE Technology, and other Orbital products and we believe those products will make a significant impact in the North American Natural Gas Industry."
Mr. Darsey continued by explaining that, "locating the facility in Houston, America's 'energy capital,' will allow us to bring these revolutionary technologies immediately to the attention of some of the largest energy producers in North America and, by making and assembling the products in the US, sales into the US market will be that much easier to support."
"We are quite confident that having a presence in Houston with its proximity to the Eagle-Ford shale formation and as home to some of the largest natural gas producers and/or transporters in the world, along with the addition of Jim and Rusty, will do nothing but enhance our ability to introduce our ground breaking technology to new customers in North America, which will by its very nature increase revenues and, thereby, increase value for CUI Global and its Shareholders," 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.
Orbital Gas Systems Ltd ("Orbital-UK") is the largest natural gas systems integrator in the United Kingdom. For over 25 years, Orbital-UK 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. Orbital-UK is a wholly owned subsidiary of CUI Global, Inc.
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.