WPCS International Incorporated (Nasdaq: WPCS), a company involved in design-build engineering services for specialty communication systems and wireless infrastructure, has has entered the wind power industry by acquiring Lincoln Wind LLC of Bettendorf, Iowa for $400,000 in cash.
Founded in 2006, Lincoln Wind is an engineering company focused on the implementation of meteorological towers that measure the wind capacity of geographic areas prior to the construction of a wind farm.
The tower has an anemometer connected to a data collection device that transmits via wireless to a central monitoring station that measures wind performance. The tower is powered by solar energy.
Lincoln Wind has developed a reputation for complete installation services and maintenance of these meteorological towers and components for such customers as British Petroleum, Clipper Wind, Infinity Wind Power and Global Energy Concepts.
Historically profitable, Lincoln Wind is projected to achieve approximately $2 million in revenue and $500,000 in earnings before interest and taxes over the next twelve months. Since inception, the company has generated gross margins in the 40% to 45% range, according to a press release. The transaction closed on June 27, 2008. Lincoln Wind will be assimilated directly into Max Engineering, a subsidiary of WPCS.
About WPCS International Incorporated
WPCS is a design-build engineering company that focuses on the implementation requirements of wireless technology. The company serves the specialty communication systems and wireless infrastructure sectors and provides services that include site design, technology integration, electrical contracting, construction and project management for corporations, government entities and educational institutions worldwide.
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