Printer Friendly

POWELL INDUSTRIES, INC. ACQUIRES PMC TECHNOLOGIES, INC.

 HOUSTON, June 15 /PRNewswire/ -- Powell Industries, Inc. (NASDAQ: POWL) has completed the acquisition of PMC Technologies, Inc., Powell CEO and Chairman, Thos. W. Powell announced today. PMC Technologies is a California-based firm that designs and manufactures medium-voltage power circuit breakers.
 PMC Technologies is now a subsidiary of Powell Electrical Manufacturing Company and has been renamed Powell-Innovative Breaker Technologies, Inc. ("IBT").
 "IBT brings additional depth and technology to our research and development efforts," Powell said. "Increasing global competitiveness demands speed in developing and introducing new cost competitive products for niche markets. As we identify market needs, IBT will increase our ability to respond to these opportunities through the development and introduction of new products for the electrical power distribution market."
 IBT had been working with Powell through a joint development contract since late 1992 to develop a compact medium-voltage circuit breaker, the Powl-Vac 38kV. The agreement included an option to purchase the company, which Powell exercised.
 The company will initially market the 38kV breaker for mass transit, utility and industrial applications. "The breaker has successfully completed a series of rigorous tests, and we are very pleased with the results," Powell said. "We will complete testing soon and begin shipping the new breakers during our first fiscal quarter of 1994."
 With the acquisition, Powell also acquired the rights to a line of products that is complementary to the company's existing products. "Industry is rapidly replacing old electro-mechanical breakers with breakers that use the latest vacuum technology," Powell said. "IBT's products will improve our competitive position as we participate in this retrofit market."
 Powell Industries, Inc. designs, manufactures and packages electrical generation, distribution and control equipment.
 -0- 6/15/93
 /CONTACT: J.F. Ahart of Powell Industries, Inc., 713-947-4422/
 (POWL)


CO: Powell Industries, Inc.; PMC Technologies, Inc. ST: Texas, California IN: SU: TNM

WB -- NY093 -- 2292 06/15/93 16:12 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 15, 1993
Words:309
Previous Article:LATSHAW ENTERPRISES REPORTS RESULTS
Next Article:THE COOPER COMPANIES REPORTS SECOND QUARTER RESULTS, PLANS EXCHANGE OFFER FOR DEBENTURES AND ANNOUNCES PREFERRED STOCK TRANSACTIONS
Topics:


Related Articles
POWELL INDUSTRIES ACQUIRES PRODUCT LINE FOR POWELL-ESCO SUBSIDIARY
POWELL INDUSTRIES, INC. SIGNS LETTER OF INTENT TO ACQUIRE JWP CONTROLS, INC.
POWELL INDUSTRIES, INC., ACQUIRES JWP CONTROLS, INC.
Cambridge Industries Purchases RTM Technology Leader
The Ziegler Companies, Inc. Signs Definitive Agreement to Purchase PMC International, Inc.
The Ziegler Companies, Inc. Completes Tender Offer for PMC International, Inc.
Standard & Poor's Announces Changes in S&P Indices.
4/Chemicals and additives.
PMC-Sierra Sampling 4G Fibre Channel Products for Next-Generation Storage Systems Design; PBC 18x4G and PBC 4x4G Intelligent Port Bypass Controllers...
PMC-Sierra Further Extends SERDES Product Family for Gigabit Ethernet Backplane and Optical Module Interconnection; New Gigabit Transceivers Add...

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters