Mr. Vaughey has extensive
management experience as CEO and managing partner of various privately
held companies. He provides strategic direction along with two other key
managers, Bill Clary, Vice President of Sales and Marketing and Kevin
O'Sullivan, Vice President of Operations.
Established in 1992,
MIRATECH develops, sells and supports emission control and engine performance
products and solutions for industrial reciprocating engines. MIRATECH
also creates catalyst housings and control systems.
In late 2000, MIRATECH
formed a new subsidiary MIRATECH SCR, to concentrate on expanding opportunities
in North America for SCR (Selective Catalytic Reduction) systems - a highly
efficient and technologically advanced method for reducing NOx and other
exhaust gases.
"The formation
of MIRATECH SCR is a significant strategic step for our company,"
said Vaughey. "It further positions us to take full advantage of
the rapid movement occurring in North America toward environmentally responsive
engine technology for on-site power generation and pipeline operations."
MIRATECH SCR is
also a national distributor for HUG Engineering in Switzerland, the company
responsible for developing the SCR catalytic converter technology, which
reduces pollutants and exhaust gases emitted from diesel, dual-fuel or
lean-burn industrial combustion engines. In addition to its application
in the power-generation market, SCR converter systems are also used in
gas compression, liquid pumping and marine propulsion operations. MIRATECH'S
SCR Catalytic Converters are used on Caterpillar, Waukesha, Cooper, Wartsila,
Jenbacher, Detroit Diesel and Cummins industrial gas and diesel engines
to reduce pollutants produced from the combustion of fossil fuels such
as oxides of nitrogen, carbon monoxide and unburned hydrocarbons.
In the past five
years, MIRATECH has enjoyed 600 percent sales growth, as it has expanded
from its strong base in the gas compression business into the power generation
market. The company's staff has more than doubled in size in the last
24 months.
Four regional sales
offices located in Colorado, Florida, Illinois and Texas support MIRATECH
and MIRATECH SCR. The offices service and sell to major accounts and manage
a network of distributors and representatives that provide a network of
service to MIRATECH's customers. Technical skills required to produce
emission control solutions stretch across narrow disciplines, including
engine controls, engine combustion, exhaust mechanics, catalytic chemistry,
sound reduction, and environmental regulation. MIRATECH'S research and
development department develops products, assists technical quote preparation
and increases core competence of the combined organization.
Many factors have
contributed to the success of MIRATECH and MIRATECH SCR, including increasing
North American concerns about air pollution as well as persistent acid
rain in 20 Northeastern states and Canada. Also, power blackouts in the
western United States, have sparked sales as more and more industrial
businesses sought on-site power generation from industrial engines as
environmentally acceptable, highly flexible new sources of reliable electric
power.
MIRATECH has demonstrated
its ability to develop its management and infrastructure to promote and
support its rapid sales rapid growth and is committed to providing its
employees with the resources and tools necessary to deliver products and
services to an ever-expanding and diversified customer base throughout
North America.
"Our growth
stems from offering the right solutions and product lines in a timely
manner," said Vaughey. "We are certainly not as big as our competitors,
but our goal is to serve our market niches with better focus and results
than any other company operating in North America." Along with the
entire power generation industry, Vaughey has noticed softening of the
market since the September 11 attacks, but he also sees selective signs
of recovery. "It's a good business to be in, because North America
will always need environmentally acceptable sources of distributed power."
Although the company
has taken strides to cater to the promising Latin American market, Vaughey
still sees the company's primary growth potential over the next three
years to be in North America. "We are certainly keeping our options
open for international expansion but it is not our current focus,"
said Vaughey. "Our company is still growing and we still have plenty
to do in North America. We are making a conscious decision to do what
we do best which is serving the North American market."
Vaughey is extremely
optimistic about the company's future growth. "We don't believe the
current administration will drastically reduce clean air requirements,
because much of the demand for cleaner air is coming from people in the
states - where voters live and breathe," said Vaughey. "We anticipate
emissions standards for air will continue to tighten in the next few years
and serve as a spur to an even greater need for SCR and other technologies.
We will continue to add products and services utilizing the latest technological
advances. We believe we are well positioned."
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