Bel Fuse, Inc. (BELFA) and Ambient Corp. (ABTG.OB) Join Forces to Deliver Smart-Grid Solutions to Electric Utility Market
Source: http://Blog.QualityStocks.net/?p=15085Posted on Tuesday, April 14th, 2009 | In Market Commentary, Small & Micro Cap
Bel Fuse Inc. (NASDAQ: BELFA) and Ambient Corp. (ABTG.OB) today announced the formalization of their partnership though a master supply and alliance agreement, which will enable the companies to bring their individual expertise together to develop products applicable to the electric utility market.
Through its various divisions, Bel Fuse designs, manufactures and sells products for networking, telecommunications, high-speed data transmission and consumer electronics. Ambient on the other hand designs, develops and markets Ambient Smart Grid communications technologies and equipment, offering smart-grid communication platforms and technologies solutions.
According to executive management of both companies, the business relationship is built on the stable history and operations of each company.
“Bel has a long tradition of innovation, developing cost-effective techniques for high volume manufacturing. Their history and reputation as a world class manufacturer who successfully partners with global technology leaders, makes them an ideal partner for Ambient,” John J. Joyce, president and CEO of Ambient stated in the press release.
In agreement with Joyce, Daniel Bernstein, president and CEO of Bel Fuse stated, “We are pleased to form this alliance which represents an expansion of our expertise with powerline products. It’s a natural progression to smart grid technology and we’re excited to be partnering with Ambient to bring new solutions to this market.”
Both companies have design engineers that will work collaboratively on the identification, development and manufacture of solutions for Ambient’s utility clients as the two companies prepare themselves to launch products of the Ambient Smart Grid product line.
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