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News >
Maysteel Announces Sale
of RAMCORDER Product Line to HD Electric
June 13, 2001
Maysteel's Electric Utility Products & Enclosures Division today announced that it has signed a definitive agreement to sell the RAMCORDER series electric utility distribution line data collection and data analysis products to HD Electric Company of Waukegan, Illinois. Effective immediately, HD Electric will take over the engineering, manufacturing and marketing of the RAMCORDER' product line. Financial terms of the transaction were not disclosed.
"This sale helps us to further concentrate our energies and resources on growing our capacitor bank, Trinetics capacitor switch, and ProCap capacitor control products," said Jim D'Ambrisi, Vice President of Maysteel's Electric Utility Products & Enclosures Group. "Our customers will benefit from this renewed focus."
"We are excited about the acquisition of the RAMCORDER product line which adds a new dimension to our core product groups of test, measurement, recording, and controls for the electrical power industry," said Mark Hoffman, President and CEO of HD Electric.
HD Electric Company is a privately owned, Illinois-based firm. Founded in 1933, the company manufactures and distributes a diverse line of products for the electric utility industry. Information is available online at www.HDElectricCompany.com.
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