Channel Technologies Inc. has formed a new, streamlined company to better serve all Piezoceramic, Transducer, and Underwater Acoustic customers. CII, ITC, and STI will be integrated as divisions under a newly formed entity, Channel Technologies Group (CTG).
A few years ago, STI and ITC started to formalize a much closer association. The next logical step in this process is to bring CII into the mix. By doing this, we'll achieve many internal goals. We see the possibility of dramatically increasing our share of the ceramics and transducer markets and are restructuring to make it easier to fulfill larger orders and respond to customer needs.
This integration is something that we are excited to do. For many years, we've interacted with each other as separate companies and it made less sense to eliminate any of the subsidiaries. Now we have developed enough as a whole and have the opportunity to more efficiently interact as one. Regardless of today's market conditions, this move makes sense for the company and our customers.
The Channel brand is established and respected in the industry, and is synonymous with the highest standards of quality and engineering expertise. The decision to build upon the substantial Channel heritage, while introducing the newly combined company as the new Channel Technologies Group, clearly reaffirms the consolidated vision of Channel Technologies Inc.
Since Channel Industries, International Transducer Corp., and Sonatech are already associated with the highest standards of quality and engineering expertise, our new name will initially stand with each of the existing brands. For example, "Sonatech, Inc." will instead be "Sonatech - a division of Channel Technologies Group". We want customers to know we have a new approach to be their best vendor while building upon the substantial Channel heritage.
Vertically integrated companies also achieve cost efficiencies by controlling quality at each step, which will reduce repair costs, returns, and downtime. This new approach to quality control will also increase the value we provide to our customers. Altogether, this will create tremendous efficiencies for the new company, and will make Channel Technologies Group a more valuable and more profitable operation for many years to come!
