InterCore Energy, Inc., (ICOR), a technology company focused on operations and investments in the areas of clean energy and clean technology, today announced that Legacy Automation, Power & Design, Inc., part of the Legacy Group, has contracts worth nearly $3 million for power and control systems from two major oil companies. InterCore has a letter of intent with Legacy pursuant to which InterCore would acquire 100% of the Legacy group.
Legacy Automation, Power & Design is a Houston, Texas-based company that specializes in providing engineered electrical power and control products to the marine, drilling and industrial markets. Legacy produces marine power generation systems, offshore/onshore drilling power systems, rapid deployment self-contained power systems and data handling centers, marine propulsion systems and support cranes, and other engineered systems that can be tailor designed for specific customer needs and solutions within the engineered power and automation industry.
James F. Groelinger, InterCore’s CEO, commented, “Legacy Automation has been an industry leader for the last decade in engineered power and automation systems. As an industry solution provider, they get involved from the beginning of a project to make sure all customer needs are met and that the final manufactured system exceeds expectations, providing years of trouble-free service. That their dedication is rewarded with significant contracts from major oil companies is no surprise to those of us familiar with their work and reputation and only serves to ratify our decision to bring the Legacy Group under the InterCore umbrella. We look forward to consummating the acquisition of the Legacy Group, and to the stability and revenues that they bring to Intercore.”