TUALATIN, Oregon, Aug. 17, 2016 /PRNewswire/ -- CUI Global,
Inc. (NASDAQ: CUI) announced today that its wholly owned
subsidiary, Orbital Gas Systems (Orbital) has signed a Technology
and Patent License Agreement with Daily Thermetrics (dailyinst.com)
a globally-respected design and manufacturing company providing the
process industries with precise temperature measurement
instrumentation. The Agreement calls for the manufacture and
sale of CUI Global's patented natural gas sampling technology, VE
Technology in North America.
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Daily Thermetrics is a full service engineering and
manufacturing company that offers a comprehensive range of
temperature measurement solutions and engineering services for the
petroleum refining and petrochemical industries.
Daily Thermetrics products include both standard and fully
customized temperature instrumentation for the process
industries. Daily Thermetrics employs full time mechanical,
chemical, and electrical engineers dedicated to:
- the analysis of the application and its thermal and velocity
constraints
- design of instrumentation both for direct and indirect contact
with the process conditions
- production/manufacturing
- inspection and quality review
- installation, assembly, and on-site needs
Daily Thermetrics provides services through their Field
Engineering Services Division. Services include front end
analysis and diagnostics of existing and grassroots units through
the design, engineering, and production stages, to on-site
supervision of installation, troubleshooting, and post-sale
technical support.
CUI Global's President & CEO, William Clough, commented, "We are especially
proud of our new relationship with Daily Thermetrics, a company
that is both nationally and internationally known as a leader in
the design, manufacturing, and sales of high-tech temperature
measurement technologies. We believe our VE Technology will
fit perfectly into Daily's product portfolio and will allow us to
more efficiently penetrate the North American energy market
partnered with a respected, well-known industry leader like Daily
Thermetrics."
Daily Thermetrics' President & CEO, Jeffrey N. Daily, stated, "As the global leaders
in temperature instrumentation for refining and petrochemical
applications, we take great pride in our ability to develop and
introduce new technologies that enhance the safety, reliability and
profitability of our customers' operations. While most of our
technology is developed by our own engineering team specifically
for our target industries, when we find a truly ground-breaking
technology that has been developed by others, we want to include
that in our portfolio. We have identified the VE technology
as such a breakthrough, and we are extremely excited to partner
with Orbital in making this advanced technology widely available to
the refining and petrochemical industries. This brilliantly
innovative solution to a long-standing challenge in our industry,
combined with Daily Thermetrics' expertise and ongoing desire to
continually enhance temperature measurement performance, provides a
truly win-win scenario for all parties. We look forward to
what the future holds for Daily, Orbital, and our customers."
Clough concluded, "This relationship with Daily Thermetrics
demonstrates the continuing value of Orbital Gas Systems North
America and the acquisition of Orbital-UK. We believe that as
we expand Orbital's global market presence with partners like Daily
Thermetrics, coupled with the impact of the VE and our other
technologies, we will increase our ability to grow and enhance
market penetration, revenues, and shareholder value in the
future."
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 GasPT 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.
About Orbital Gas Systems Ltd.
Orbital Gas Systems Ltd ("Orbital") is the largest natural gas
systems integrator in the United Kingdom. For over 30 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's
internationally recognized expertise in the natural gas industry,
including bringing together the patented VE Technology with
the ground-breaking GasPT device, offers natural gas operators and
users a comprehensive engineering array for the next generation of
energy metering systems. Orbital is a wholly owned subsidiary
of CUI Global, Inc.
For more information, please
visit www.orbitalgassystems.com.
About Daily Thermetrics
Since 1973, Daily Thermetrics has provided the process
industries with high-performance temperature measurement
instrumentation. Known for quality, engineering and delivering to
the demanding needs of customers, Daily holds patents on
multi-points and numerous other technologies to address challenging
applications in temperature instrumentation all over the world.
Throughout the power, petrochemical and refining industries,
thousands of plant operators rely on key process control data
provided by Daily Thermetrics to safely and efficiently optimize
their facility's performance.
For more information, please visit www.dailyinst.com.
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.