RALEIGH, NC - November 24, 2008
Sensus Metering Systems has established an Engineering Center of Excellence in Morrisville, North Carolina. The Center will focus on Sensus’ Conservation Solutions business unit’s extensive customer base and will include Advanced Metering Infrastructure (AMI) Endpoint Engineering and System Test and Quality activities.
The Center will be housed in two buildings at the Perimeter Park development with a total of 24,800 square feet of space. It will include an engineering lab area, environmental and radio frequency (RF) test chambers and offices.
“Establishing this Center reflects our commitment to developing technologies for our customers today and tomorrow,” said Bill Yeates, Executive Vice President of Sensus’ Conservation Solutions business unit. “It will allow our team to work more closely together, combining our extensive AMI engineering and development talent into one location so we can more efficiently develop and deliver fault-free, industry-leading technologies into the market. We chose the Raleigh area to house this critical resource due to the significant technology presence and availability of skilled engineering talent.”
Sensus has increased its presence in the Raleigh area significantly in the past year – growing from approximately 16,000 square feet of space to more than 51,000 square feet. Its global headquarters are located at the Forum on Six Forks Road in Raleigh.
The Engineering Center of Excellence will be the newest location for Sensus, which has numerous facilities across North and South America, Europe, Asia and Africa.
About Sensus Metering Systems
The Sensus Metering Systems companies are leading world-class providers of water, gas, heat and electric meters including comprehensive metering communications system solutions that comprise both automatic meter reading (“AMR”) and advanced metering infrastructure (“AMI”) systems. Additional linked businesses include Smith-Blair, Inc. a leading provider of pipe clamp & coupling products for the water, gas, and industrial markets; and Sensus Precision Die Casting a producer of complex, high quality die castings.
All statements in this release, other than historical facts, are made in reliance on the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and are subject to change at any time. These statements reflect the Company’s current expectations regarding its financial position, revenues, cash flow and other operating results, business strategy, financing plans, forecasted trends related to the markets in which the Company operates, legal proceedings and similar matters. The Company’s expectations expressed or implied in these forward-looking statements may turn out to be incorrect. The Company’s actual results could be materially different from its expectations because of various risks. These risks, some of which are discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K (SEC File No. 333-113658) for the fiscal year ended March 31, 2007 as filed with the Securities and Exchange Commission on May 16, 2007, include its dependence on new product development and intellectual property, and its dependence on independent distributors and third-party contract manufacturers, automotive vehicle production levels and schedules, its substantial financial leverage, debt service and other cash requirements, liquidity constraints and risks related to future growth and expansion. Other important risks that could cause actual events or results to differ from those contained or implied in the forward-looking statements include, without limitation, the Company’s ability to integrate acquired companies, general economic and business conditions, competition, adverse changes in the regulatory or legislative environment in which the Company operates, and other factors beyond the Company’s control.