Viper Networks And JV Partners To Start Build-out For First LED Manufacturing Facility In The U.S.
April 12 2012 - 9:05AM
Business Wire
Viper Networks, Inc. (Pink Sheets: VPER), is pleased to announce
that the Company has signed a term sheet with three other joint
venture partners, to create the first U.S.-based LED manufacturing
and assembly facility, which will be located in Washington D.C.
The joint venture has been established to provide a new energy
efficient production venue that will specifically target job
creation and commercial development near the Nation’s Capitol in
the District of Columbia.
However, this multi-faceted joint venture will serve a number of
critical purposes on behalf of Viper Networks’ corporate growth
strategy along with furthering the new industry and job growth
initiatives for the region.
Although the Company expects to announce all joint venture
entity names and agreement details shortly, Viper Networks is happy
to report that the Company and LEDs America, Inc. have secured
majority ownership of the JV manufacturing project.
Those who have followed Viper Networks’ corporate news releases
during 2012, should recognize the name LEDs America and how far
this alliance has evolved, per announcements on numerous occasions
denoting agreements, rights and understandings between both
parties.
Since an existing building is being leased in the D.C. area for
the LED project, the JV partners plan to begin the LED
manufacturing and assembly line build-out this month (April), with
projected completion next quarter.
The well defined project should further Viper Networks plans for
expanding nationally. Once production commences in the Washington
D.C. facility, the Company will focus on launching additional
facilities, as they are currently working on multiple grants in
numerous U.S. regions.
Since the Company will be working directly with one of their
acquisition candidates, noteworthy benefits include; verifying
ability to manufacture various product designs and patents,
especially semiconductor LED chip capabilities, which will allow
Viper Networks to control quality and cost, and position the
Company in new category, which may justify higher valuation
models.
The Company is simultaneously working on several large LED sales
contracts for 2012.
For additional information, see www.ledsamerica.com and
www.totalenergyresource.net.
Except for the historical information contained herein, this
press release contains forward-looking statements that involve
risks and uncertainties. Actual results may differ materially from
the results predicted and reported results should not be considered
an indication of future performance.
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