ENGINEERING TECH
Globenewswire | May 15, 2023
Matrix Service Company, a leading provider of engineering and construction services to the energy and industrial markets, announced today that its subsidiary, Matrix PDM Engineering, has signed an exclusive Memorandum of Understanding with Tissot Industrie, headquartered in Podensac, France, which allows each to offer total Engineering, Procurement, and Construction (EPC) solutions for liquid hydrogen storage across the United Kingdom, Norway, Switzerland, and the European Union.
“We are excited about the significant role Matrix, together with Tissot, will play in building out the infrastructure needed to meet an enormous global demand for hydrogen. This partnership marries Matrix PDM’s unrivaled expertise in cryogenic engineering and technologies with Tissot’s world-class international construction expertise to provide complete solutions for customers across Europe that are seeking storage and terminal solutions to support their hydrogen ambitions,” said Matrix Service Company President and CEO John R. Hewitt. “We look forward to a long, mutually beneficial relationship.”
“Tissot started a partnership with PDM in the early nineteen sixties and today we are very proud to begin a new chapter with Matrix PDM Engineering. We are confident that this partnership will enhance our contribution towards the new energy transition in the markets where we operate” said Tissot Industrie President, Gérard Tissot. “With this partnership, Tissot brings its experience of over 650 spheres including design, fabrication, and erection. Together we will bring the highest standards and expertise from both companies to deliver the best in class to the hydrogen sector.”
Matrix brings more than 65 years of legacy expertise in the engineering and design of cryogenic infrastructure, positioning the company as a leading provider of cryogenic hydrogen storage for the next generation of low carbon energy.
Throughout its history, Matrix has designed multiple spheres for various products, most recently providing engineering, procurement, fabrication, and construction services for an 1,800 cm cryogenic sphere providing hydrogen for a wide range of industries, especially in the mobility sector.
About Matrix Service Company
Matrix Service Company, through its subsidiaries, is a leading North American industrial engineering, construction, and maintenance contractor headquartered in Tulsa, Oklahoma with offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea.
The Company reports its financial results in three key operating segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.
With a focus on sustainability, building strong Environment, Social and Governance (ESG) practices, and living our core values, Matrix ranks among the Top Contractors by Engineering-News Record, has been recognized for its Board diversification, is an active signatory to CEO Action for Diversity and Inclusion, and is recognized as a Great Place to Work®.
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DESIGN, PRODUCTS
Businesswire | May 08, 2023
Helios Technologies, Inc., a global leader in highly engineered motion control and electronic controls technology for diverse end markets, has announced it signed a definitive agreement to acquire i3 Product Development (or “i3”.) i3 is a custom engineering services firm, with over 55 engineers, embodying expertise in electronics, mechanical, industrial, embedded and software engineering. Their solutions are used across many sectors, including medical, off-highway, recreational and commercial marine, power sports, health and wellness, agriculture, consumer goods, industrial, sports and fitness. Additionally, they specialize in working to transform customer’s ideas into industrial design solutions through rapid prototyping and creating 3D models in-house. A Top Workplace award winner for multiple years in the state of Wisconsin, i3 has locations in both Sun Prairie and Middleton.
“Innovation has been the lifeblood of Helios from its founding", commented Josef Matosevic, Helios’ President, and Chief Executive Officer. “The acquisition of i3 Product Development will turbocharge our efforts to be the most innovative company focused on the intersection of the hydraulics and electronics markets. They will complement our existing internal engineering teams across all our operating companies. i3 will enable us to provide our customers with additional highly skilled professionals that can solve their most complex challenges and help them stay ahead of their competition. We can also leverage the IoT (Internet of Things) software platform that i3 has developed to support the telematics and analytics vision that we have been articulating. This flywheel acquisition fits into our technology roadmap strategy like a glove and will continue to make us incredibly tough for our competition to follow.”
The acquisition of i3 is expected to help augment other Helios businesses by providing profitable engineering, consulting, and product development services for customer-specific solutions that go beyond the current products and solutions offered by Helios. Helios expects to close the transaction in the second quarter of 2023, subject to customary closing conditions. Helios will fund the acquisition through a combination of cash and equity. Terms of the acquisition were not disclosed.
About i3 Product Development
By sticking to its founding principles of Innovation, Inspiration, and Integrity, i3 generated over $13 million in revenue during 2022. i3 has served more than 450 clients and completed over 4,000 projects in its 28-year history. i3 is inspired to create products that holistically combine emotion, user-centered design, engineered precision, quality craftsmanship, smart technology, and design for manufacturability. i3 takes pride in the details and the creative solutions to deliver products that are genuinely easy for users to enjoy. For more information please visit: www.i3pd.com.
About Helios Technologies
Helios Technologies is a global leader in highly engineered motion control and electronic controls technology for diverse end markets, including construction, material handling, agriculture, energy, recreational vehicles, marine and health and wellness. Helios sells its products to customers in over 90 countries around the world. Its strategy for growth is to be the leading provider in niche markets, with premier products and solutions through innovative product development and acquisition. The Company has paid a cash dividend to its shareholders every quarter since becoming a public company in 1997. For more information please visit: www.heliostechnologies.com.
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ENGINEERING TECH
Businesswire | May 10, 2023
Audubon Engineering Company (Audubon), a leading provider of engineering, procurement, construction (EPC), fabrication, and technical services, announced today its assumption of engineering staff members from EXCEL Midstream Solutions, along with an additional office location to support the company’s growth.
As part of Audubon’s long-term growth strategy, the company assumed a group of engineering staff from EXCEL Midstream Solutions, an established midstream services company. Sharpening its focus on construction and maintenance project solutions, EXCEL Midstream elected to transfer its engineering division to Audubon. These engineers, project, and support personnel bring to Audubon decades of combined experience and valuable industry knowledge, along with many ongoing projects that will add to Audubon’s growing customer base.
According to Audubon CEO David Robison: “We are excited to welcome EXCEL Midstream’s engineering group to the Audubon family. We recognize the vital role played by these talented professionals in contributing to our business strategy and project success.
Along with the new engineering personnel, Audubon adds another Houston location at 1250 Wood Branch Park Dr. along the Energy Corridor. This office expands on Audubon’s presence across the greater Houston area, with existing locations on the west, northwest, and south sides of town.
On the office addition, Robison added: “We are pleased to expand the Audubon brand with a fourth location in the Houston metro area. The new office sits in the Energy Corridor and allows convenient access to our employees and clients.”
In recent months, Audubon has responded to significant business growth and industry demand by adding hundreds of engineering, technical, and administrative professionals across the company. The new office joins other locations in Texas, Louisiana, Oklahoma, Pennsylvania, Colorado, California, Mexico, and Colombia.
About Audubon
Founded in 1997, Audubon Engineering Company is a leading provider of integrated engineering, construction, procurement, fabrication, and technical services. Serving the energy, power, utility, industrial, and infrastructure sectors, our end-to-end life-cycle solutions solve our clients' biggest challenges. Leveraging technology, ingenuity, and experience, we deliver outstanding project outcomes for a better tomorrow. For more information, visit auduboncompanies.com/.
About EXCEL Midstream Solutions
EXCEL Midstream Solutions is a services provider offering project solutions to midstream energy sector clients for new capital, rehabilitation, relocation, and expansion projects. We provide an extensive service offering for both regulated and non-regulated pipeline and facility projects. For more information, visit excelmidstream.com/.
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