Vu1 Corporation Transitions Manufacturing to Huayi Lighting Company
22.05.12
“As part of a previously-announced review of our existing manufacturing
facilities, the Board determined that it is in the best interest of Vu1
and its shareholders to transition manufacturing to the Huayi Lighting
Company; the wind-down of the Sendio facility was completed on February
13, 2012. By shifting manufacturing to Huayi Lighting, we can achieve
both our near- and long-term business objectives in a cost-effective
manner,” stated William B. Smith, Chairman of Vu1 Corporation. “This
strategic transition positions us to effectively execute our global
growth strategy, propels us towards profitability and further increases
shareholder value and eventual monetization of the Company.”
Huayi Lighting will manufacture Vu1 Corporation’s lighting products,
including R30, A19 and R40 bulbs for Lowe’s, Avspar International,
Seattle Lighting and other pending retail and distribution outlets. The
changeover from the Sendio facility to Huayi Lighting will save Vu1
Corporation over $4 million in fixed costs annually while further
increasing the Company’s cash flows.
Source: EON: Enhanced Online News (press release)