Super Vision (NASDAQ:SUPVA)
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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.