CNG Source, an Indiana-based provider of compressed natural gas (CNG) vehicle solutions and station development services, is making its first international move. The company says its new office in Monterrey, Mexico, will serve as a critical starting point for its eventual expansion into other Latin American markets.
‘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,’ explains 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 U.S.’
The Mexican branch will operate under the “CNG-Source-Mexico” brand and will report to CNG Source's marketing and business development department located in Houston, Texas. Cesar Stackpole, CNG Source's newly appointed country manager, is spearheading the efforts in Mexico.
The company will make a variety of equipment and services available in the country, including CNG dispensers, compressors and complete stations for the natural gas vehicle market. For the industrial segment in Mexico, CNG Source says it will be offering solutions for the virtual or mobile pipeline market.