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 names Professor Michael Hughes new non-executive director
Cinpart PLC (AIM: CINP) said it appointed Professor Michael Hughes to the board as a non-executive director with immediate effect.
From 1993 to 1999, Hughes was the chief executive of Midland Electricity PLC, an electricity company with an annual turnover of in excess of £1 billion, which, until June 1996 when it was taken over by GPU and Cinergy was quoted on the Official List of the London Stock Exchange.
He continued in his role following the acquisition and in 1999 was appointed to the post of executive vice president of the GPU International Operations Group, which included operations in Australia, Argentina and the USA.
Hughes retired in 2002 after he had overseen the flotation or sale of a number of these operations, which included the sale of Midlands Electricity to Utilicorp United Inc in 2002. Since his retirement, he has held various non-executive positions, including the role of chairman at EA Technology Ltd and Cyan Holdings PLC. He is also a non-executive director of South Staffordshire PLC and Oxford Instruments PLC (LSE: OXIG), and the president of the UK Electricity Association.
Cinpart CEO Kevin Baker commented: "We are delighted that Mike is joining our board. His experience and knowledge within the electricity industry will be of great benefit to Cinpart as the company continues to expand its recently established Active Energy business."
Cinpart is a holding company that owns 72.2 percent of Active Energy Ltd, which manufactures and supplies the VoltageMaster, a device that can reduce electricity consumption in commercial buildings by up to 20 percent.
Active Energy has a memorandum of understanding in place with Scottish and Southern Energy (LSE: SSE), making the VoltageMaster the preferred voltage optimisation device for the commercial clients of SSE’s contracting unit.
Other wholly owned subsidiaries in the group include Thailand-based Derlite Co Ltd, an international manufacturer of electrical and non-electrical components specializing in ignition systems for gas appliances and Gasignition Ltd, a trading company supplying electrical components to small and medium-sized European gas appliance manufacturers.
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Other Cinpart news
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30/07/10 Cinpart changes name to Active Energy Group from August 2
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13/07/10 Cinpart's Active Energy lands new VoltageMaster orders
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06/07/10 Edison Investment Research sees Cinpart’s drive into US enhanced by proposed assembly plant
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05/07/10 Cinpart’s Active Energy to establish US assembly plant in Summit County, Ohio
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02/07/10 Edison Investment Research sees significant opportunity for Cinpart
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25/06/10 Cinpart eyes US push for voltage optimization product through local decison makers
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13/05/10 Cinpart making good progress in developing Active Energy - Edison Investment Research
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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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09/02/10 Cinpart wins £900,000 Ministry of Justice contract to supply 55 VoltageMaster units
