TIR restructures to focus on general lighting
TIR Systems says that cost reductions in its fixtures business will enable an increased focus on solid-state lighting and the company's Lexel technology.
The company is pinning its hopes on its Lexel™ technology, which it hopes will emerge as a standard for solid-state lighting.
The restructuring, which will result in the elimination of 42 jobs with annual cost reductions estimated to be approximately CAN $5 million, was necessary in order to more closely align TIR’s operations with those of its partners.
TIR has already entered into collaborative agreements with four lighting manufacturers -- The Genlyte Group, Zumtobel AG, Lighting Services Incorporated, and Spectral GmbH. -- and is currently shipping Lexel LED-based lighting units to these partners in support of their plans to introduce Lexel-based luminaires this year.
TIR says that it is also in discussions with several other lighting manufacturers. Going forward, TIR’s partners will lead the development of new finished luminaire products incorporating TIR’s SSL technology, and will distribute those products through their powerful sales channels under their respected brand names.
"TIR is moving to accelerate and capitalize on the transition to solid-state lighting for the general lighting marketplace,” said Leonard Hordyk, President & CEO, TIR Systems. "We are focusing our resources on what we do best -- developing and commercializing SSL technology -- while aligning ourselves to what lighting manufacturers do best i.e. designing, manufacturing, marketing and distributing finished luminaires.
TIR will continue manufacturing, selling and supporting its existing lighting products, including Destiny, ColorTrace, LightMark and Light Pipe.