AdL Technology engineers and manufactures custom designed circuit boards, assemblies, and sub-assemblies used in various applications including the control of solid-state lighting. ADL has a history of profitable operations and the acquisition is expected to be accretive before giving effect to one-time transaction costs and non-cash amortization expenses.
Commenting on the completed acquisition, Robert J. Ready, President and Chief Executive Officer, stated, "We are very pleased to welcome AdL to the family of LSI companies and look forward to many meaningful contributions, particularly as they relate to our solid-state LED lighting initiatives." As stated in our earlier press release, "So as to further establish and advance our leadership position in LED lighting, we made the decision to vertically integrate our capabilities in connection with designing, engineering, and producing the solid-state electronics that control and power LEDs. For the past two years, we and our Montreal-based engineers at LSI Saco Technologies have been working with the talented engineering and manufacturing people at AdL Technology. As part of the LSI family, AdL will allow us to stay on the leading edge of product development while at the same time providing opportunities to drive down manufacturing costs and control delivery of key components. AdL's capabilities will also have applications in our other LED product lines such as digital scoreboards, and advertising ribbon boards and billboards...."
“Over the past few years the emerging use of power LEDs in street lighting has yielded lower total ownership costs, much improved lighting and significant energy savings -- as much as 50% -- over standard lighting technologies,” said Dan Polito, president of Enfis Lighting North America. “Governments, municipalities and utilities face an ongoing effort to serve the public with better lighting and to reduce their carbon footprints and energy costs. LED street light installations are being tested around the world and are demonstrating their ability to improve results for both the operators of street lights and the people that use them.
Commenting on the completed acquisition, Robert J. Ready, President and Chief Executive Officer, stated, "We are very pleased to welcome AdL to the family of LSI companies and look forward to many meaningful contributions, particularly as they relate to our solid-state LED lighting initiatives." As stated in our earlier press release, "So as to further establish and advance our leadership position in LED lighting, we made the decision to vertically integrate our capabilities in connection with designing, engineering, and producing the solid-state electronics that control and power LEDs. For the past two years, we and our Montreal-based engineers at LSI Saco Technologies have been working with the talented engineering and manufacturing people at AdL Technology. As part of the LSI family, AdL will allow us to stay on the leading edge of product development while at the same time providing opportunities to drive down manufacturing costs and control delivery of key components. AdL's capabilities will also have applications in our other LED product lines such as digital scoreboards, and advertising ribbon boards and billboards...."
“Over the past few years the emerging use of power LEDs in street lighting has yielded lower total ownership costs, much improved lighting and significant energy savings -- as much as 50% -- over standard lighting technologies,” said Dan Polito, president of Enfis Lighting North America. “Governments, municipalities and utilities face an ongoing effort to serve the public with better lighting and to reduce their carbon footprints and energy costs. LED street light installations are being tested around the world and are demonstrating their ability to improve results for both the operators of street lights and the people that use them.
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