HISTORY

C.S. Controls was formed in August, 1987 in Industry, California as a partnership between Peter Carter and Paul Srigley. Both Mr. Carter and Mr. Srigley had extensive experience in the design and manufacture of machinery for industrial, marine and military use.

In 1989, Mr. Carter sold his interest in the business to Mr. Srigley. Due to an increase in business, additional facility was required. Thus, a building was leased in Raceland, Louisiana and the company was incorporated in Louisiana, with the majority of the company stock held by four key employees. In January, 1995, due to a further increase in business, the company was moved to a still larger facility located in Houma, Louisiana. The company purchased this facility in January, 1996.

STRUCTURE

C.S. Controls is generally structured as follows: being a relatively small and very competitive company, it is imperative that there be as few levels of management as possible. While placing considerable responsibility on certain key individuals, this structure produces some obvious benefits. Among these are very efficient response to changing customer requirements, ability to adapt to disruptions in schedule and instant identification of causes of delays, cost issues and Q.A. concerns.

FACILITIES/PERSONNEL

C.S. Controls is comprised of two facilities, one located in Houma, Louisiana, the other located in Orange, California. The two facilities, although geographically separated, are able to easily maintain rapid communication through the use of telephone, fax, overnight courier and e-mail.

The Louisiana facility, located approximately 50 miles Southwest of New Orleans, contains the Engineering, Manufacturing, Purchasing and Quality Control functions in a 31,000 square foot facility on 5 acres. There are approximately 35 people employed here.

The manufacturing area is equipped with a 20 ton and 10 ton overhead crane as well as several smaller jib cranes and a substantial amount of fabrication assembly and test equipment. The office area contains a networked computer system and several computer drafting work stations. This facility is located in an area which has available a large amount of skilled manpower suited to the company's business.

The facility is non-union and has no history of labor disputes. The California facility is an office which is the principal location of the President and Sales Manager. A limited amount of engineering, estimating and purchasing capability is available at the California facility. This office is normally the principal point of contact between the customer and the company until contracts are in place. Once the customer issues a contract, the Project Manager, located in Louisiana, becomes the principal point of contact.

FINANCES

C.S. Controls is in very good financial condition. Payables and receivables are current with no outstanding disputes with either customers or vendors. The company has a very good credit situation with all of its suppliers and customers. The company has been able to manage its cash flow well enough to operate and grow with very little outside financing although additional financing is available if needed.

The annual sales of the company are approximately U.S. $5 million. The company is profitable and has for virtually its entire history been able to maintain a positive cash flow. Although financial statements are not considered public information, they are available for review by our customers if requested.

Copyright © 2003-2004 C.S. Controls, Inc.