The company’s new office in Monterrey will serve as a critical starting point for its eventual move into other Latin American markets. Mexico’s recent energy industry reform, geographical proximity and fast growing market, rendered the country a logical target for the CNG Source’s expansion, while offering an advantageous marketplace with savvy investors and dynamic companies seeking the most competitive solutions for both natural gas vehicles and industrial demand.
The Mexican branch will operate under the “CNG-Source-Mexico” brand, and will report to the marketing and business development department located in Houston, TX. Cesar Stackpole, CNG Source’s newly appointed country manager, is spearheading efforts in Mexico. “I am excited to take on this new challenge,” said Stackpole. “I am bringing new technologies in the natural gas industry to Latin American.”
“This strategic move will solidify our company’s development, making us stronger and more stable financially, as well as give us the experience and momentum needed for speeding up our international growth,” said Doug Lubs, President of CNG Source. “Additionally, the new office will make us less dependent on our local market and better protected against the effects of oil price swings and its effect on the demand for natural gas solutions in the US.”
The products and solutions consist of a variety of equipment and services ranging from CNG dispensers, compressors, and complete fueling stations for the NGV market. For the industrial segment in Mexico, CNG Source will be offering its high performance solutions for the virtual or mobile pipeline market which is mostly intended to serve large industrial and institutional energy users not connected to a pipeline.
Source: CNG Source.
