wind energy | transmission | oilfield production | safety

Employee Benefits

Sun Electric provides health insurance for employees and provides employees the option of purchasing health coverage for family members at the employees expense. Employees receive two weeks paid vacation after 1 year of service and the Company has six paid holidays. Sun is in the process of implementing a new 401(k) plan by mid-year 2007.

Accounting and IT Systems

The Company is out growing its accounting system that works well for small projects and T&M service work, but is not well suited for larger transmission projects.  The goal is to select a new system at the start of the new fiscal year on April 1, 2007.  

The corporate office has a local area network for the office workstations. Field managers are being outfitted with notebook computers and remote reporting software. If a sale transaction takes place within the next few months, the Company will adopt the buyer’s accounting platform; otherwise, management intends to have a fully integrated construction management system in place by September 30, 2007.
 

Safety and Training Programs

Don Hoffman is responsible for the Company’s safety and training programs. Sun has developed and is implementing comprehensive in-house certification and training processes for crane operations, aerial lift, derrick operators, CDL, linemen certification distribution up to 25kV, transmission linemen up to 69kV, 138kV up to 345kV construction, plus hot work certification up to 138kV. Customers including AEP and Entergy have commented positively on the nature of these programs which management believes helps differentiate Sun Electric from other local competitors. The Company’s current EMR is .76.

Equipment Fleet  

Sun’s vehicle and utility equipment fleet consists of bucket trucks, digger derricks, cranes, puller/tensioners, trailers, trenchers, backhoes, front loaders, excavators, pick-up trucks, SUVs and various other pieces of equipment used in overhead utility construction and maintenance. Office equipment consists of furniture, computers and radio equipment. Year-to-date, the Company has invested approximately $1.5 million in capital equipment, the largest item being a Soilmec R-516HD digger derrick at a cost of $610,000.

Leased Facilities

Sun Electric’s corporate office, warehouse, maintenance facilities and equipment yards are located at 6927 E Hwy 80, Odessa, TX. The facilities consist of a one-acre yard plus 2,600 square feet of office space, 1,120 sq. ft. of warehouse space, and 4,085 sq. ft. of maintenance shop space.
 

Bonding

Sun Electric has a $20 million aggregate and $15 million per project bonding line with Westfield Surety.