ESCO Announces SoCalGas AMI Selection for Negotiations
ST. LOUIS, July 21, 2010 /PRNewswire via COMTEX/ --
ESCO Technologies Inc. (NYSE: ESE) today announced that Southern California Gas Co. (SoCalGas), a subsidiary of Sempra Energy (NYSE: SRE) has selected Aclara RF Systems Inc. and its STAR(R) Network for negotiation of a definitive agreement for SoCalGas' Advanced Metering Infrastructure (AMI) project.
Aclara(TM) is part of ESCO's Utility Solutions Group. More than 100 cities have deployed, or are currently deploying, the STAR Network system, including New York City, Boston, Kansas City, Washington, D.C. and San Francisco.
Vic Richey, Chairman and Chief Executive Officer, commented, "I am thrilled with the selection to enter into contract negotiations with SoCalGas."
About Aclara
The Aclara brand represents one of the industry's leading Intelligent Infrastructure(TM) technologies for providing device networking, data-value management and customer communications to water, gas and electric utilities globally. Over 500 utilities in nine countries rely on proven Aclara solutions to connect with their customers. Aclara is part of the Utility Solutions Group of ESCO. Further information is available on Aclara's web site at www.Aclara.com.
Forward-Looking Statement
Statements in this press release regarding the negotiations of a contract with SoCalGas and any other statements which are not strictly historical are "forward-looking" statements within the meaning of the safe harbor provisions of the federal security laws. Investors are cautioned that such statements are only predictions and speak only as of the date of this release, and the Company undertakes no duty to update. The Company's actual results in the future may differ materially from those projected in the forward-looking statements due to risks and uncertainties that exist in the Company's operations and business environment including, but not limited to: the success of negotiations between SoCalGas and the Company, changes in requirements of SoCalGas, SoCalGas' ability to successfully negotiate appropriate terms and conditions with other subcontractors and project participants, the timing and content of a potential contract with SoCalGas, the Company's successful performance of requirements for SoCalGas, financial constraints impacting SoCalGas, the receipt of necessary regulatory approvals pertaining to SoCalGas' project, technical difficulties, material shortages, delivery delays or defaults impacting the Company's contract and termination for convenience of the Company's contract.
ESCO, headquartered in St. Louis, is a proven supplier of special purpose utility solutions for electric, gas and water utilities, including hardware and software to support advanced metering applications and fully automated intelligent instrumentation. In addition, the Company provides engineered filtration products to the aviation, space and process markets worldwide and is the industry leader in RF shielding and EMC test products. Further information regarding ESCO and its subsidiaries is available on the Company's web site at www.escotechnologies.com.
SOURCE ESCO Technologies Inc.