The Company expects, the contract, which became effective January 19, 2018, to generate approximately $2 million in revenue per year. Initial shipments are scheduled to begin in the second quarter of 2018.
Pioneer chairman and CEO Nathan Mazurek said: "As a provider of transformers to a number of nationally-recognized and regional utilities, we are pleased to add this major regional utility to our growing portfolio of major utilities and support the delivery of reliable power to its customers.
"Our ability to win this contract through a competitive bidding process validates our confidence in our solutions and our reputation for outstanding customer service. This new award reinforces our outlook for continued profitable growth in 2018 and beyond."
