October 1, 2005
Office: (425) 216-7555
Fax: (425) 216-7558
Remote Control Technology Sells Irrigation Division
Remote Control Technology, Inc. (RCT) announced today that it has agreed to sell its
irrigation division to TRC Irrigation Remotes, LLC of Kirkland, Washington.
TRC Irrigation Remotes, LLC will acquire all the assets related to RCT's handheld
wireless irrigation remote control devices, associated receiver cards and accessories,
including the popular Commander and Sidekick FM systems.
For over 20 years irrigation contractors have relied on these systems to improve
the efficiency of their work crews and greatly increase the profitability of irrigation
system maintenance. With a handheld TRC remote control, one maintenance worker can control
any irrigation system for maintenance checks, service or supplemental watering from up to
5 miles away. Permanent receiver cards even permit the operator to interrupt regular controller
operation for up to seven days to prevent watering if inclement weather is forecast or a system
is under repair. With over 5,000 wireless remote controls in the field and over 90,000 permanent
connectors installed, RCT's irrigation division is the irrigation industry's dominate manufacturer
of commercial grade wireless remote controls.
While declining to give specific financial details of the transaction, Michael Lien,
RCT President, commented that, "this transaction will generate significant cash for RCT
which we will use to fund our explosive growth in the industrial wireless market.
Our applications for wireless pump control, military wireless landing light systems and industrial wire replacement products have been growing at over 60% per year for
the last three years, and we anticipate accelerated growth in 2006. While our irrigation
division is very profitable, the distribution channels, customers and growth potential are
not compatible with our other industrial markets."
TRC, Irrigation Remotes, LLC is a new Washington state business formed by a group of
private equity investors for the express purpose of acquiring the irrigation assets of RCT.
Cindy Gladner, President of TRC Irrigation Remotes, LLC, stated: "Our investor group recognized that as a stand-alone business, RCT's irrigation division could
generate significant cash flow and continue to grow. We are all excited to be able to focus
on continuing to design, manufacture and market the highest quality commercial remote
controls in the industry. We anticipate no significant changes to our existing customer
relationships. All our TRC employees have worked at RCT for many years."
Said Steve Wilson, owner of Eagle Sales, an RCT manufacturer's representative: "We have known
for some time that RCT was looking to sell their irrigation division. We are pleased that they
have found a financial buyer who will continue to operate the business without the major changes
that an irrigation manufacturer or distributor might have made."
With the close of this transaction, TRC Irrigation Remotes, LLC will become the irrigation
industry's only manufacturer of receiver cards specifically designed for Rain Bird, Hunter,
Irritrol, Weathermatic, HIT, Superior, and Griswold controllers, as well as universal 24VAC
wireless remote control systems.
About Remote Control Technology (www.remotecontroltech.com) Founded in 1982, Remote
Control Technology (RCT) is the leading developer of RF (radio frequency) wireless
communication systems. The rugged, easy-to-use FM transmitters and receivers are durable,
operate at long range and are guaranteed to perform. With thousands of units sold, Remote
Control Technology is found in many PLC (programmable logic controller) and SCADA
(supervisory control and data acquisition) systems. Remote Control Technology's clients
include Raytheon, Ford, Microsoft, Exxon Mobil, Boeing and the California Department of
Transportation. Remote Control Technology's wireless products are used at prominent
facilities such as Safeco Field, Pac Bell Field, The Cincinnati Zoo, as well as hundreds
of airports, parks and industrial facilities. The company also manufactures custom RF
radio telemetry systems for the U.S. Army 101 Airborne Division and other United States
Special Forces projects. Currently serving military, irrigation, pump, conveyor and
facility management industries, Remote Control Technology is located in Kirkland,
Washington and unconditionally guarantees the performance of its wireless products.