Press
Click on a date below to view the press release:
For Immediate Release:
October 19, 2011. Marine Electric Systems announced today that
it had acquired an interest in Panel Point Systems. Harry Epstein,
CEO of Marine Electric stated that he has known Jeffrey Frank,
CEO of Panel Point Systems, Inc., for over 25 years and was very
excited to be a part of this opportunity. The amount of the
investment was not disclosed.
Panel Point has already moved into Marine Electric’s facility at 80
Wesley Street, South Hackensack, New Jersey. Panel Point will
use Marine’s infrastructure to continue to build its business.
Marine Electric Systems will be responsible for manufacturing the
machinery needed to produce Panel Point Systems’ panels.
Epstein stated that he believed there were opportunities in the
United States, Africa and the Caribbean, which could use Panel
Point Systems construction process. Appointments are already
under way to introduce the technology in the regions Marine
Electric has an established presence.
Jeffrey Frank stated that he welcomed the opportunity to work with
Marine Electric Systems. Mr. Frank has already met one of
Marine’s clients who is interested in building a community center
in Florida.
Along with Panel Point Systems, Marine Electric Systems is also a
partner in Greenhouse Strategies, Inc., a manufacturer of LED
lighting. Both Epstein and Frank thought there would be a good fit
between Panel Point homes and the lighting solutions provided by
Greenhouse. Frank stated the need for low energy lights in the
communities he is working with in Africa. “These areas have a
shortage of electricity and providing a solution with LED solar
lighting is going to help everyone.”
Marine Electric Systems, Inc. is a 70-year-old engineering and
manufacturing firm supplying equipment to the United States
Dept. of Defense and other military and commercial clients.
Panel Point Systems, Inc. is a New York based company focused
in the development and production of structural insulated panels
for the global construction industry.
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