Pioneer Power Awarded New Service Agreement with Large Home Improvement Retailer
December 21 2020 - 8:00AM
Business Wire
Focus on Sustainable Power Continues to Benefit
Pioneer Power
Pioneer Power Solutions, Inc. (Nasdaq: PPSI) ("Pioneer Power" 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 it has been awarded an
initial service contract for preventative maintenance and repairs
by one of the largest home improvement retailers in the U.S.
The Company will provide scheduled generator preventative
maintenance and emergency repair services for the retailer’s engine
generator equipment assets at 24 of its more than 300 store
locations beginning January 1, 2021.
Nathan Mazurek, Pioneer's Chairman and Chief Executive Officer,
said, “Our reputation for quality service work and responsiveness
to our customers’ needs were decisive factors in the award of this
competitively bid contract to Pioneer. The proven ability of our
expert technicians to provide maintenance and repair services
across a broad range of engine manufacturers and models, as
demonstrated by customer references, affirmed the quality and
timeliness of our work. Most importantly, we look forward to
proving our capabilities with this new customer and advancing
additional opportunities beyond this initial agreement.”
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 include switchgear and engine-generator
controls, complemented by a national field-service network to
maintain and repair power generation assets. To learn more about
Pioneer, please visit its website at
www.pioneerpowersolutions.com.
Safe Harbor Statement:
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended. Such statements may be preceded by the words
“intends,” “may,” “will,” “plans,” “expects,” “anticipates,”
“projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,”
“potential” or similar words. Forward-looking statements are not
guarantees of future performance, are based on certain assumptions
and are subject to various known and unknown risks and
uncertainties, many of which are beyond the Company’s control, and
cannot be predicted or quantified and consequently, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include,
without limitation, risks and uncertainties associated with (i) the
Company’s ability to successfully increase its revenue and profit
in the future, (ii) general economic conditions and their effect on
demand for electrical equipment, (iii) the effects of fluctuations
in the Company’s operating results, (iv) the fact that many of the
Company’s competitors are better established and have significantly
greater resources than the Company, (v) the Company’s dependence on
a single customer for a large portion of its business, (vi) the
potential loss or departure of key personnel, (vii) unanticipated
increases in raw material prices or disruptions in supply (viii)
the Company’s ability to realize revenue reported in the Company’s
backlog, (ix) future labor disputes, (x) changes in government
regulations, (xi) the fact that the Company’s chairman, who
controls a majority of the Company’s voting power, may develop
interests that diverge from yours, (xii) the liquidity and trading
volume of the Company’s common stock and (xiii) an outbreak of
disease, epidemic or pandemic, such as the global coronavirus
pandemic, or fear of such an event.
More detailed information about the Company and the risk factors
that may affect the realization of forward-looking statements is
set forth in the Company’s filings with the Securities and Exchange
Commission, including the Company’s Annual and Quarterly Reports on
Form 10-K and Form 10-Q. Investors and security holders are urged
to read these documents free of charge on the SEC’s web site at
www.sec.gov. The Company assumes no obligation to publicly update
or revise its forward-looking statements as a result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20201221005067/en/
Brett Maas, Managing Partner Hayden IR (646) 536-7331
brett@haydenir.com
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