HOUSTON, TX After a record sales year and consolidation of several key projects aiming to strengthen the company through cost optimization, marketing, engineering and production capabilities, CNG Source is making its first international move. The new office in Monterrey, Mexico will serve as a critical starting point for CNG Source’s 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 CNG Source’s expansion. In addition to serving as the gateway to Latin America, Mexico offers an advantageous marketplace with savvy investors and dynamic companies seeking the most competitive solutions for both NGV (natural gas vehicles) and industrial demand.
"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 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. A seasoned engineer, Stackpole was tapped for his extensive knowledge and experience. Even before graduating, he had already garnered a prestigious national engineering award. He also spent the last three years managing ACERALL, a distribution firm specializing in CNG equipment for Mexico, making him an apt choice for the role.
“I am excited to take on this new challenge,” said Stackpole. “I am bringing new technologies in the natural gas industry to Latin American.”
Karim Bousfiha, vice president of marketing and business development, is leading the expansion project. He thinks the new office and the addition of Stackpole is a savvy move for CNG Source.
"Mexico is a challenging and appealing market. The incorporation of Mr. Stackpole to our team is a sure bet for the success of this expansion. He will be instrumental to our development throughout Latin America. We know that with his talent and the specific portfolio of products and solutions we have carefully crafted for this market, we are set for continuing our growth beyond US borders,” said Bousfiha.
Those products and solutions consist of a variety of equipment and services ranging from CNG Dispensers, CNG Compressors, and complete CNG stations for the NGV market that include the new line of CNG Dispensers which the company will be imminently launching and announcing. 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.