CUI Inc and Future Electronics Sign Global Distribution Agreement
TUALATIN, Ore., Jan. 22, 2013 /PRNewswire/ -- CUI Inc, a subsidiary of CUI Global, Inc. (NASDAQ: CUI), today announced that it has signed a global distribution agreement with Future Electronics, a world class leader and innovator in the distribution and marketing of electronic components. This agreement allows Future Electronics to leverage their experience and resources to launch CUI's product portfolio to a global market and a diverse customer base. In selecting Future Electronics as a global distribution partner, CUI noted the strength of Future Electronics' demand creation programs and its robust field support resources which will add greater reach for its Novum® Advanced Power product line as well as its broad portfolio of standard power supplies and board level components.
"We are very pleased to be launching the CUI franchise," said Jodie Metsos, Vice President of Corporate Product Marketing for Future Electronics. "Their line of power supplies and board level components has had a tremendous amount of interest from our sales and engineering teams and most importantly, our customers. We see a very positive outlook for the Future/CUI partnership."
"As a worldwide leader in the distribution industry Future has long distinguished itself as a first class organization in this space," said Matt McKenzie, President of CUI. "We believe the core strengths of our companies align very well, and we look forward to greatly expanding our market reach through this partnership."
About Future Electronics
Future Electronics is a global leader in electronics distribution, ranking 3rd in component sales worldwide. Founded in 1968, the company has established itself as one of the most innovative organizations in the industry today, with 5,000 employees in 169 offices in 42 countries around the world. Future Electronics is globally integrated, with one worldwide IT infrastructure providing real-time inventory availability and access, while enabling full integration of its operations, sales and marketing worldwide. Offering the highest level of service, the most advanced engineering capabilities and technical solutions through all stages of the design-production cycle, and the largest available-to-sell inventory in the world, Future's mission is always to Delight the Customer®.
For more information, visit www.FutureElectronics.com.
About CUI Global, Inc.
Delivering Innovative Technologies for an Interconnected World . . . . .
CUI Global is a publicly traded platform company dedicated to maximizing shareholder value through the acquisition and development of innovative companies and technologies. From its Vergence GasPT2 platform targeting the energy sector, to its subsidiary CUI Inc's industry leading digital power platform targeting the networking and telecom industries, CUI Global has built a diversified portfolio of industry leading technologies that touch many markets. Recently, a move was made to merge and streamline resources with its subsidiary CUI Inc in order to create a unified, international brand that now positions CUI Global for further strategic expansion.
About CUI Inc
CUI is a technology company focused on the development and distribution of electronic components. At the leading edge of power supply design, the organization supports customers as they strive to improve the energy efficiency and environmental credentials of their application. The company's power group is complemented by a portfolio of world-class board level components, consisting of interconnect, sound, motion control and thermal products. An unwavering commitment to create collaborative partnerships with customers and a drive to see that their design project is a success has been a hallmark of CUI's sustained growth since its founding in 1989. As a leader in the industry, CUI will continue to invest in the future through new technologies, talented employees, expanded manufacturing capabilities, and a growing global reach.
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.
SOURCE CUI Global, Inc.