Business news: Enfis, Carmanah, Super Vision, Infinilux, ACOL, Pulsar
WaveLight Laser Technologie AG has acquired a significant minority interest in Enfis, a developer of multi-watt LEDs based in Swansea, UK. The deal, which was for a cash consideration, also provides for substantial technology sales and complements a long-term R&D agreement between the two companies for work on aesthetics applications of Enfis’ market leading LED technology. It follows the successful commissioning in March 2004 by WaveLight of a number of new products from Enfis.
Simultaneously Finance Wales, a provider of development capital based in Cardiff and an existing shareholder, has agreed to make a further investment in Enfis. The new funds will allow Enfis to continue its business expansion program into new international markets and to bolster R&D and production facilities for medical and industrial applications.
Carmanah reports record revenues, new facility
Carmanah Technologies has reported revenues of CDN $12.2 million for the quarter ended September 30, 2005, representing a 164% increase from the year-ago quarter. This included $4.2 million from the Solar LED Lighting Group and $1.1 million from the LED Sign Group, with the remainder from the Solar Power Systems Group, formed by the acquisition of Soltek Powersource Ltd earlier this year. Net earnings were $222,470 for Q3 2005, while year-to-date revenues and earnings were $23.6 million and $873,109, respectively.
In late September, Carmanah secured a new facility that will provide approximately 25,000 sq.ft. of additional manufacturing, warehousing, and office space in Victoria, BC, Canada. This will enable Carmanah to merge its Victoria-based manufacturing and warehousing for both the Solar LED Lighting Group and Power Systems Group as well as some "on site" production engineering.
Financial results for Super Vision
Super Vision International, a manufacturer of LED lighting systems and fiber optic lighting products, has announced 3.5% year-on-year revenue growth to $3.1 million in the third quarter ended September 30, 2005.
Commercial lighting sales were up 32% in the quarter, driving the quarter's gross margin improvement, while a strengthened sales agency base, balanced double digit growth in sales of both LED and fiber-optic products and sales of the new SaVi brand of architectural LED products all contributed to the increase.
Net loss for the quarter was $47,636 or $0.02 per basic and diluted common share, although excluding a one-time severance charge, the quarter showed a net profit of $22,364. The net loss was $62,845 in the third quarter of 2004.
Infinilux appoints distributor
An agreement with Infinilux will give MEI Research exclusive distribution rights for the entire Infinilux product range of solid-state architectural lighting products and LED light engines. The agreement calls for the launch of a complete online store and catalog debuting at www.infiniluxonline.com.
Anthony Vilgiate, Infinilux Staff Consultant stated, "We spoke with our customer base and they made it clear that they needed quick and easy online access to pre-production and prototype quantities of our product line, they wanted to pay with a credit card and be guaranteed rapid delivery. After some extensive research we decided that MEI Research was our best choice. MEI has such an extensive presence in the professional lighting industry that could be leveraged to bring true value to our customer base."
ACOL opens Asian sales office
ACOL Technologies S.A., a Geneva-based company developing high brightness LEDs, has announced the opening of its new Asian sales office in Taiwan. The new office will to be led by semiconductor industry professional Gary Feng, who joined ACOL Technologies as Asia Sales Director in September of this year. The new ACOL Asia office will provide dedicated local sales and service support to customers and distributors throughout Asia, including China, Hong Kong, Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand.
Pulsar appoints sales manager for Americas
Jerry Colmenero has joined Pulsar as Sales Manager for the Americas as of the 1st November 2005. Jerry's role will be to support and develop Pulsar's activities in the Americas, and in particular to act as a support mechanism for distributors in Canada, USA, Mexico and South America.
Pulsar's Managing Director Paul Mardon said "The Americas are an important sector of our business, Jerry's appointment will ensure that we are in a position to react quickly to the needs of our customers in the region."