Cinpart
Cinpart operates through a number of wholly owned subsidiaries that variously design, manufacture, source, and supply electrical and other components primarily to manufacturers of gas appliances. The company's manufacturing facility is located in Thailand and has customers throughout the world. Cinpart has a 72% interest in Active Energy Limited; a UK company which manufactures and sells power optimising transformers to customers throughout the UK and Europe.
Cinpart wins £900,000 Ministry of Justice contract to supply 55 VoltageMaster units
Cinpart (AIM: CINP) said Active Energy unit has been awarded a contract by the Ministry of Justice (MOJ) as part of a multi phased tender process. Under the £900,000 contract, Active Energy will provide 55 VoltageMaster units at 52 courts throughout England and Wales.
Active Energy is currently tendering for additional MoJ sites, which form part of the ministry's strategy to improve energy efficiencies.
"It is reassuring to see the MOJ placing such a priority on the importance of addressing energy efficiency”, Cinpart chief executive Kevin Baker said, “we are delighted to be able to provide the VoltageMaster product to assist the MOJ in reducing energy costs by up to 20 per cent per annum".
The contract will be delivered by 31 March 2010. The associated installations will be carried out by Scottish and Southern Energy PLC (LSE: SSE) subsidiary SEC, as set out in the newly established strategic partnership between Active Energy and the utilities major.
In January the respective companies signed a Memorandum Of Understanding, which makes the VoltageMaster the preferred voltage optimisation device for the commercial clients of SSE’s contracting unit. The MOU details the commercial terms for the marketing, sale and installation of Active Energy's VoltageMaster by SSE. Under the terms of the deal, SEC also became Active Energy's preferred installation sub-contractor.
SEC is one of the largest mechanical and electrical contractors in the UK, operating from 63 regional offices.
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Other Cinpart articles
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13/01/10 Cinpart’s voltage optimisation acquisition is paying off
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15/06/09 Cinpart secures VoltageMaster contract win with major UK retailer
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03/06/09 Cinpart – switching to a different stream
Other Cinpart news
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10/03/10 Cinpart names Professor Michael Hughes new non-executive director
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05/03/10 Edison says Cinpart’s Active Energy subsidiary is making good progress, values share at 30p
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24/02/10 Mirabaud says 'buy' Cinpart, classes stock as lower risk carbon-reduction play
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01/02/10 Cinpart confirms Scottish and Southern Energy deal for VoltageMaster device
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20/01/10 Cinpart unit Active Energy in advanced talks with blue chip energy provider over VoltageMaster
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22/12/09 Cinpart raises £1.05 million to develop international businesses, in talks over partnership for VoltageMaster
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09/12/09 Cinpart wins £560,000 per annum supply deal for spark electrodes
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01/12/09 Edison values Cinpart at 30p as energy savings business Active Energy gains momentum
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30/10/09 Ambrian gives Cinpart ‘speculative buy’ rating, expects breakeven in 2010
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17/09/09 Cinpart interims hit by recession, but company sees strong upside from new Active Energy business