DALLAS, Jan. 27, 2003 — Electric and Gas Technology Inc. has realigned its divisions to better reflect its forward-looking vision within each of its industry segments.
The Utility Solutions Group (USG), Outsource Solutions Group (OSG), Water Technology Group and Research and Development Group have all been created as a means to better reflect ELGT’s operating strategy.
The Utility Solutions Group (USG), consisting of Reynolds Equipment Company (natural gas utility products) and Hydel Enterprises, Ltd. (electric utility products), will focus on opportunities for growth through product development, increased capacity, and acquisition of other similar focused organizations.
Daniel A. Zimmerman, President of ELGT, comments on the formation of USG by stating, “The purpose of USG is to assemble our companies into groups that focus on the markets we serve. USG will continue to grow, as we are committed to implementing a merger and acquisition strategy.”
Reynolds, in business since 1967, manufactures equipment used in the natural gas industry. Its principal products, known as “RECOR,” are electronic pressure, temperature, and volumetric instrumentation. Reynolds continues to produce its traditional line of mechanical instrumentation and also provides engineering and fabrication of equipment used to accomplish the “odorization” of natural gas.
Hydel, based in Toronto, was incorporated in 1977, and has operated as a manufacturer of electrical equipment for use in the electric utility industry since its inception. Hydel enjoys an excellent reputation with the electric utilities it serves, principally in the Canadian market.
The Outsourcing Solutions Group (OSG), will initially consist of newly acquired precision sheet metal operation, Logic Design Metals, Inc. The mission of OSG is to focus on mission-critical manufacturing processes for a growing list of world-class customers. The customer mix will provide diversification in world markets to obviate economic swings in market segments. Through international strategic alliances currently being finalized, OSG will be able to attract customers requiring a presence in Europe and Asia.
“The decision to form OSG was made with the vision to continue reshaping ELGT for rapid growth,” voiced Zimmerman. “By doing so, we are positioning ourselves to meet critical manufacturing requirements for both internal and external production.” Zimmerman continues, “OSG was created in the same manner as the new Utility Solutions Group (USG), which will help drive profit for ELGT and operate as a venue to add other manufacturing processes, whether through capital investment or through merger and acquisition.”
Of ELGT’s new Water Technology Group, Zimmerman explained, “It will be the base of operations for the Watermakerà¢â€ž- technology and serve as a vehicle for exploiting other water-related technologies. The Water Technology Group will provide support to its growing list of strategic partners and become expert at directing the product into specialized sales channels into such organizations as the United Nations, USAID and World Health Organization.”
The Research and Development Group will add to its storied heritage of invention and the pursuit of commercialization of existing company-owned technologies such as hydrogen peroxide electric generators, explosion-proof wireless light systems and ultra-purification of water technologies.
Electric & Gas Technology, Inc. (ELGT) was organized under the laws of the State of Texas on March 18, 1985, to serve as a holding company for several operating subsidiary businesses.
