Elgin E2 Inc. Announces Name Change to Elgin Technologies Inc.HUDSON, N.H.--(BUSINESS WIRE)--May 14, 1998--Elgin E2 Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ELGN) announced today that the company has changed its name to Elgin Technologies Inc. to reflect its continued development as a diversified, technology-driven company. In addition, the company also announced that, as part of its continued restructuring effort, it has consolidated its Warren Power Systems and Elgin Power Systems into one operating division. The new division will be called Elgin Warren Power Systems. "Elgin and Warren represent two of the oldest names in the telecom power supply market," stated Walter Sullivan For other persons named Walter Sullivan, see Walter Sullivan (disambiguation). Walter Sullivan is a fictional character and antagonist of the video game . Although he is the main antagonist of the game, and the player character is a young man named Henry Townshend, many , National Sales Manager sales manager n → gerente m/f de ventas sales manager n → directeur commercial sales manager sale n → for Elgin Warren Power Systems. "This consolidation will benefit Elgin on an operating basis by reducing overhead and marketing expenses, eliminate product line overlap See: overlap, Part 1. , improve product integrity, and improve lead times, delivery and installation," stated William Mosconi, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Elgin. The company also created a new operating division for its recently completed Logic Labs acquisition. Logic Labs designs and manufactures ballast and power systems for the commercial lighting industry. Logic is beginning beta tests with several utilities of its new Master Ballast Light System. The MBLS is a patented electronic ballast system that significantly reduces electrical power usage in standard florescent flo·res·cence n. A condition, time, or period of flowering. See Synonyms at bloom1. [New Latin fl lighting applications. Logic believes that shipments of the product will occur in the second half of this year. "The industrial lighting market is a multi-billion dollar a year business and Logic Labs' MBLS product represents the next generation in ballast technology. Deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. within the utility industry represents a tremendous opportunity to introduce this product, and its energy savings advantage over current ballast systems will lead the way," stated Mosconi. Elgin Technologies, Inc. designs, manufactures and installs custom power supply systems for the telecom industry, as well as designs and manufactures power and ballast systems for industrial lighting applications. CONTACT: Elgin Technologies Inc., Hudson William Mosconi, 603/598-4700 Website: www.elgintech.com |
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