Super Vision International to Become Nexxus Lighting, Inc.Corporate Headquarters, Charlotte, North Carolina (Photo: Business Wir
March 01 2007 - 3:52PM
Business Wire
Super Vision International, Inc. (NASDAQ:SUPVA) (Class A Common)
today announced that the company is being renamed Nexxus Lighting,
Inc. effective April 2007, and is relocating its corporate
headquarters to Charlotte, North Carolina. These changes are part
of the company�s new strategic plan to direct its focus toward
advanced technology lighting products and systems. The company�s
stock symbol will change from �SUPVA� to �NEXS� in April 2007, and
trading under the new �NEXS� symbol is also expected to start in
April. The word �nexus� means connection point, and the
relationship of the word to the new name is tied to the company�s
strategic vision to �connect advanced technology with light.� The
company will focus its resources on the rapidly expanding market
for LED lighting system technologies, fiber optic lighting
technologies and other new emerging �white light� technologies
through both new product development and potential strategic
acquisitions. �Nexxus Lighting can be viewed as a brand new company
with a solid foundation and a very clear vision,� stated Mike
Bauer, President and CEO. �Over the past year we have worked very
hard to resolve the legacy issues that have burdened this company,
strengthen the balance sheet and position the company to execute
its new strategic plan. The future has never been brighter. Using
Nexxus Lighting as a platform, we intend to capitalize on the
opportunities for advanced lighting systems, including new LED
lighting fixtures and light bulbs, through a focused brand
strategy.� Initially, Nexxus Lighting, Inc. will serve as the
umbrella for three distinct brands: Super Vision� for fiber optic
lighting systems Oasis� for illuminated water falls and water
features Savi� for state-of-the-art LED lighting products, systems
and controls As the company grows and potentially develops or
acquires additional brands, these brands would be added underneath
the Nexxus Lighting, Inc. corporate umbrella. Separate brand names
will allow the company to market each brand uniquely. All of the
company�s products are specification grade quality and are used in
commercial, architectural, signage, swimming pool, national account
and retail store lighting applications. As part of executing its
new strategic plan the company is moving its manufacturing and
distribution operations to a new facility in Orlando, Florida and
is moving its corporate headquarters to Charlotte, North Carolina.
�Eliminating the existing capital lease obligation and moving to a
new correctly sized manufacturing facility in Orlando, not only
allows us to reduce our lease expense and remove a significant long
term liability, but more importantly, allows us to properly
optimize our production capabilities, improve work flows and speed
up communication between sales and operations. These changes are
all designed to enhance our service and performance levels over the
long term,� continued Mr. Bauer. �Our mission is to grow rapidly.
Charlotte, North Carolina provides a more strategic and
geographically central location on the east coast, in a state where
LED technology and the technical talent is being embraced. Our
executive team including corporate finance, human resources,
marketing and sales will form the initial Charlotte team. As the
company grows, we plan to centralize research and development in
Charlotte as well. This will give us the ability to pool our best
and brightest engineering and R&D technical talent in one
location. As new products or technologies are designed by this
central team, we will determine the optimum location to manufacture
those products based on manufacturing capabilities and
requirements.� We expect to be fully moved into our new 33,600 sq.
ft. leased operating facility located at 9400 Southridge Park
Court, Suite 200, Orlando, Florida 32819 on April 1st, 2007. The
new Orlando facility is approximately 2.5 miles from the existing
facility and there will be no changes to the telephone and
facsimile numbers. The Nexxus Lighting, Inc. corporate headquarters
is scheduled to be relocated within four months to the Floyd Smith
Office Park located at 124 Floyd Smith Drive., Suite 300,
Charlotte, North Carolina 28262, subject to finalizing the lease
agreement. Nexxus Lighting, Inc. Get Connected! For more
information, please visit the existing Super Vision International
web site at www.svision.com. Our new web site,
www.nexxuslighting.com, will be operational soon. Certain of the
above statements contained in this press release are
forward-looking statements that involve a number of risks and
uncertainties. Such forward-looking statements are within the
meaning of that term in Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. Reference
is made to Super Vision's filings under the Securities Exchange Act
for factors that could cause actual results to differ materially.
Super Vision undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events, or otherwise. Readers are cautioned
that any such forward-looking statements are not guarantees of
future performance and involve risks and uncertainties, and that
actual results may differ materially from those indicated in the
forward-looking statements as a result of various factors. Readers
are cautioned not to place undue reliance on these forward-looking
statements.
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