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Presto Casting Taps U.S. Energy Services to Manage Energy Supply
Aerospace industry supplier looks to cut energy costs by leveraging experienced natural gas industry professional
Minneapolis — April 15, 2009 — Aerospace industry supplier Presto Casting Co. has contracted with energy management company U.S. Energy Services for natural gas management services as part of an initiative to cut energy costs.
A supplier of precision castings to the aerospace industry, Presto Casting is a division of Magellan Aerospace, which is based in Mississauga, Ontario. Presto Casting is looking to U.S. Energy Services to oversee its natural gas supply to ensure it is incurring minimal energy costs.
U.S. Energy said it will drive down energy costs by creating competition among energy providers, administering price risk management practices to lock in lower prices, and working with utility tariffs to resolve energy-related issues.
"Over the past couple of years energy prices have experienced extreme volatility, which is a big concern for us," said Matt Verbin, financial controller with Presto Casting. "We are relieved that we can rely on U.S. Energy Services to assist us in curbing our energy costs."
Through moving Presto Casting Company's facility in Glendale, Ariz., to third-party-supplied transport service, U.S. Energy Services will reduce the monthly cost of natural gas by more than 25 percent as compared to the costs currently paid.
"This is a new market opportunity for commercial and industrial natural gas users in the Southwest region," said Bruce Hoffarber, vice president at U.S. Energy Services. "We realize that many companies are not familiar with the notion of utilizing an energy management company, and we feel that Presto Casting Company will benefit greatly from our knowledge of the natural gas industry."
U.S. Energy Services, based in Minneapolis, offers a portfolio of energy management services that work toward achieving the lowest energy costs for its clients. It said it creates competition among energy providers in order to add value to its clients' bottom line. Additionally, it handles the managerial aspects of hedging and locking in the best prices for its clients.
A supplier of precision castings to the aerospace industry, Presto Casting is a division of Magellan Aerospace, which is based in Mississauga, Ontario. Presto Casting is looking to U.S. Energy Services to oversee its natural gas supply to ensure it is incurring minimal energy costs.
U.S. Energy said it will drive down energy costs by creating competition among energy providers, administering price risk management practices to lock in lower prices, and working with utility tariffs to resolve energy-related issues.
"Over the past couple of years energy prices have experienced extreme volatility, which is a big concern for us," said Matt Verbin, financial controller with Presto Casting. "We are relieved that we can rely on U.S. Energy Services to assist us in curbing our energy costs."
Through moving Presto Casting Company's facility in Glendale, Ariz., to third-party-supplied transport service, U.S. Energy Services will reduce the monthly cost of natural gas by more than 25 percent as compared to the costs currently paid.
"This is a new market opportunity for commercial and industrial natural gas users in the Southwest region," said Bruce Hoffarber, vice president at U.S. Energy Services. "We realize that many companies are not familiar with the notion of utilizing an energy management company, and we feel that Presto Casting Company will benefit greatly from our knowledge of the natural gas industry."
U.S. Energy Services, based in Minneapolis, offers a portfolio of energy management services that work toward achieving the lowest energy costs for its clients. It said it creates competition among energy providers in order to add value to its clients' bottom line. Additionally, it handles the managerial aspects of hedging and locking in the best prices for its clients.
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