Dry Type Transformer Order from Existing Customer Further Expands Growing Sales Backlog
FORT LEE, N.J., Jan. 11, 2019 /PRNewswire/ -- Pioneer Power Solutions, Inc. (PPSI) ("Pioneer" or the "Company"), a company engaged in the manufacture, sale and service of electrical transmission, distribution and on-site power generation equipment today announced that the company secured a new order from an existing customer valued at approximately $2.6 million for highly customized magnetic coils to be integrated into its Power Distribution Unit (PDU) product line for installation in new data centers.
Deliveries are expected to begin during the first quarter of 2019, with the entirety of the order scheduled to be delivered by the end of the year.
Nathan Mazurek, Pioneer's Chairman and Chief Executive Officer, said, "Pioneer's ability to provide highly customized power distribution solutions on budget and on time enabled us to win this meaningful award, further solidifying our position as an important vendor in the growing data center market. These orders represent the ongoing demand for critical power systems that provide reliable, intelligent power to increasingly complex data center solutions. We ended the third quarter of 2018 with a record backlog from continuing operations of $41.0 million, and with this and other booked orders, we expect to report a higher backlog as of the end of 2018."
About Pioneer Power Solutions, Inc.
Pioneer Power Solutions, Inc. manufactures, sells and services a broad range of specialty electrical transmission, distribution and on-site power generation equipment for applications in the utility, industrial, commercial and backup power markets. The Company's principal products and services include custom-engineered electrical transformers, low and medium voltage switchgear and engine-generator sets and controls, complemented by a national field-service organization to maintain and repair power generation assets. Pioneer is headquartered in Fort Lee, New Jersey and operates from 12 additional locations in the U.S., Canada and Mexico for manufacturing, centralized distribution, engineering, sales, service and administration. To learn more about Pioneer, please visit its website at www.pioneerpowersolutions.com.
Safe Harbor Statement:
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Brett Maas, Managing Partner
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