MagneGas, the clean technology company in the renewable resources and environmental solutions industries, has employed a new sales executive and is in the process of expanding its product offerings to better meet growing client demand.
Since 2010, MagneGas has been successful in penetrating the wholesale industrial gas industry through the introduction of the MagneGas clean technology product for the legacy acetylene market. MagneGas’s acquired its wholly-owned subsidiary ESSI in November 2014, which is now part of the MagneGas Welding Supply division. This critical acquisition brought a deep customer base that quickly validated the MagneGas2® product as a strong competitive alternative to acetylene for metal cutting and fabrication.
ESSI also brought an immediate diversification of revenue, providing revenue growth opportunities in non-proprietary industrial gases and traditional welding supplies. MagneGas has since used the MagneGas2 product as a key wedge product to establish relationships with leading industrial, manufacturing, construction, demolition and fabrication companies across the southeastern US markets.
Many of MagneGas’s largest clients have inquired about the company’s ability to deliver a wider array of products in the industrial tool category. The company recognised this as a significant low-risk growth opportunity that is highly complementary to the company’s current product offering. As a result, the company chose to add a highly experienced sales executive from a leading competitor this week. This executive brings a deep client relationship base with some of the largest companies in the construction, manufacturing, demolition, refurbishment, utilities and heavy industries across the southeastern US. Furthermore, this executive is expected to quickly transition approximately $1,000,000 in existing annual client revenues to MagneGas over the coming months.
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