DISTRIBUTED ENERGY COMBINING NORTHERN POWER & PROTON ENERGYTO STRENGTHEN OPERATIONS, REDUCE COSTWALLINGFORD, CT, January 31, 2007 — Distributed Energy Systems Corp. (NASDAQ: DESC), today announced it will combine its two subsidiaries Northern Power Systems and Proton Energy Systems — to reduce cost and strengthen systems sales, engineering, production, service and technology development.The company, which creates and delivers products and solutions for the decentralized energy marketplace, said the reorganization will result in a charge against 2007s first-quarter results of approximately $1.0 million, or $0.03 per share, to account for staff reductions, reflecting the elimination of about 60 jobs, or 20% of the workforce, and related expenses. The reorganization is estimated to result in savings of approximately $4-$5 million, on an annualized basis, beginning in the second quarter of 2007. In addition, the Waitsfield, VT, location will be closed, and its activities moved to the companys 110,000-square-foot Barre, VT facility.During the past year, it became increasingly clear that we would benefit going forward by implementing our strategy now, to become a one-company organization, said Ambrose L. Schwallie, Distributed Energys chief executive officer. We expect these changes to improve sales and marketing effectiveness, reduce costs, enhance efficiencies of our systems engineering, products and service capabilities, and enable more and better cross-fertilization in advanced technology development.This new functional structure, Mr. Schwallie continued, allows us to focus more precisely on the markets, critical business drivers and capabilities that give Distributed Energy the best prospects for the higher-margin revenues we need to foster strong, sustained, profitable growth. Taking this action promptly will, we believe, enable the company to make better progress toward our goal of reaching profitability.Markets and OrganizationDiscussing the reorganization further, the Distributed Energy CEO cited the companys emphasis on power generation and power electronics systems, systems engineering and combined heat-and-power projects, products and services for oil and gas exploration markets, larger-scale wind projects for power generation, and commercial hydrogen, renewable fuels, and waste-to-energy technologies.To implement the reorganization, Mr. Schwallie also announced the appointment of three senior vice presidents to company-wide functional positions, all reporting to him:”Mark Murray now leads the sales and marketing functions for all of Distributed Energy products, systems and services. Mr. Murray most recently headed the companys commercial hydrogen business.”Betsy Anderson assumes responsibility for all of the companys engineering, production, project management and service activities, expanding her prior operating responsibilities beyond energy systems, products and services.”Robert Friedland takes on management duties encompassing all technology innovation, including the hydrogen research and development programs that he previously ran.Under their experienced leadership, Mr. Schwallie said, the company will work to strengthen lines of communication and operating efficiencies within the company, improve our impact in the marketplace, and continue to pursue the ideas and technologies that can enable Distributed Energy to be one of the leaders in alternative and renewable energy solutions.Mr. Schwallie concluded: This new unified focus should begin to be reflected in 2007 operating results. We believe this new, revitalized organization will put Distributed Energy in a stronger position to drive improved operating margins, and better serve markets where our capabilities and business models deliver valuable benefits to customers, now and in the years ahead.About Distributed Energy Systems Corp.Distributed Energy Systems Corp. (NASDAQ: DESC) creates and delivers products and solutions to the emerging decentralized energy marketplace, giving users greater control over their energy cost, quality and reliability. The company delivers a combination of practical, ready-today energy solutions and the solid business platforms for capitalizing on the changing energy landscape. For more information visit http://www.distributed-energy.com(link is external).
SHARE Email Facebook Twitter July 03, 2019 Infrastructure, Press Release Harrisburg, PA – Today, Governor Tom Wolf announced that Carter Lumber (CL), a building materials retailer, selected York County to establish its first manufacturing operation in Pennsylvania. The project will support the combined creation and retention of 212 jobs.“It’s with great pleasure that we welcome Carter Lumber’s manufacturing operation to the York region,” Governor Wolf said. “This is a great example of how public-private partnerships can strengthen our manufacturing sector and create new jobs for Pennsylvanians. As a former business owner in York County’s hardwoods industry, I know Carter Lumber will be right at home in this area and Pennsylvania.”Carter Lumber is expanding operations to meet market demands. The project includes the purchase and renovation of a 64,300-square-foot warehouse located in Penn Township Industrial Park. Renovations include expanding truck docks and parking areas, laying stone, and installing fencing to provide for additional parking and storage. The company will also renovate its existing facility to accommodate manufacturing and storage. Carter Lumber plans to purchase equipment and machinery, as well as 5.39 adjacent acres for future expansion. The company has committed to investing at least $6 million into the project, which is expected to create 35 new, full-time jobs at the new manufacturing facility and retain 177 existing jobs across the commonwealth over the next three years.“Carter Lumber is grateful for the support of Governor Wolf, the commonwealth of Pennsylvania, and York County, as we expand our operations with our new manufacturing facility in Hanover,” said Jeff Donley, president of Carter Lumber. “The manufacturing done at this location will not only add jobs but will also allow us to better serve the homebuilders building homes for Pennsylvania families, now and well into the future. We are excited to get the renovations of the facility completed and to begin shipping products to those homebuilders as early as the end of this year.”Carter Lumber received a funding proposal from the Department of Community and Economic Development for the project. The proposal includes a $70,000 Pennsylvania First grant, $70,000 in Job Creation Tax Credits to be distributed upon creation of the new jobs, and a $15,750 workforce development grant to help the company train employees. The project was coordinated by the Governor’s Action Team, an experienced group of economic development professionals who report directly to the governor and work with businesses that are considering locating or expanding in Pennsylvania. Additional coordination was provided through the York County Economic Alliance (YCEA).“We are proud to welcome Carter Lumber, one of the nation’s top building products supplier, to York County, said Kevin Schreiber, president and CEO of YCEA. “Working with Carter Lumber, we attest their values, commitment to quality and community will make it a fantastic addition to the Hanover area. It’s been a pleasure to work with them and the Governor’s Action Team throughout their expansion process. With new jobs enhancing the tax base, Carter Lumber’s new location will have a positive economic ripple effect. We are proud that they chose Pennsylvania and York County.”Founded in 1932, the Carter Lumber family of companies is dedicated to providing builders and do-it-yourselfers with a broad range of quality building materials. Carter Lumber operates 14 retail and showroom locations across the state.For more information about theGovernor’s Action Team or DCED, visit dced.pa.gov. Wolf Administration Funds Carter Lumber Expansion in York