"We are very happy to be partnering with Sun Hydraulics to bring Sturman's digital valve technology to Sun's customers," said Carol Sturman, President of Sturman Industries, Inc.
Sturman Industries and Sun Hydraulics Announce Licensing Agreement
SARASOTA, FL, and WOODLAND PARK, CO, November 10, 2014 – Sun Hydraulics Corporation (NASDAQ: SNHY) and Sturman Industries, Inc. announce they have entered into a Technology License Agreement related to the use of Sturman’s digital valve technology. Under the agreement, Sun will manufacture and sell valves which incorporate Sturman digital valve actuation technology into screw-in cartridge valves used in fluid power markets.
“By converging Sun’s expertise in hydraulic cartridge valves with Sturman’s expertise in drive electronics and efficient digital magnetics, we believe we can offer our customers unique beneficial solutions for their applications,” commented Allen Carlson, Sun’s CEO and President. “Customers are asking for products which are smaller in size, lighter in weight, use less power, are less expensive and operate faster. New electro-hydraulic cartridge valves under development as a result of Sun teaming up with Sturman will provide these features and create new markets for Sun.”
“We are very happy to be partnering with Sun Hydraulics to bring Sturman’s digital valve technology to Sun’s customers,” said Carol Sturman, President of Sturman Industries, Inc. “Under the agreement with Sun, Sturman will perform the research and development for select new valve products, while Sun will be responsible for production engineering, manufacture and commercialization of them. We’re pleased to support Sun in bringing forward solutions that can benefit the hydraulics industry.”
Concluding, Carlson added, “We look forward to bringing these exciting new products to market during 2015. We believe there are next generation applications in the mobile and industrial segments which can benefit from the use of digital valve technology.”
Sun Hydraulics Corporation is a leading designer and manufacturer of high performance screw-in hydraulic cartridge valves and manifolds for worldwide industrial and mobile markets. For more information about Sun, please visit our website at www.sunhydraulics.com.
Sturman is a leader in the design and implementation of superior process controls to modernize systems that do work. The designs integrate the advantages of miniaturization, flexibility and ultra-fast response by combining intelligent electronics and unique software strategies with digital latching magnetics, and often include the implementation of high power density micro-hydraulics. Sturman specializes in optimizing systems to meet demanding user and environmental needs for smart, efficient, clean and affordable operation. Sturman works with organizations globally that wish to take advantage of Sturman’s advanced technology. Applications have ranged from aerospace, industrial and commercial products, including water systems, pic-n-place machines, suspension and engine controls. Sturman is currently engaged in programs for commercialization of transformational engine controls that optimize the use of all fuels under all conditions.
For more information, contact Tim Kranz, 719-686-6231 or firstname.lastname@example.org