EASTLAKE, Ohio, USA, Sept. 13, 2019 (GLOBE NEWSWIRE) -- Intellitronix Corporation, a wholly-owned subsidiary of the U.S. Lighting Group, Inc. (USLG), today announced it has made an offer, which has been accepted by the Seller, to purchase a manufacturing and warehousing facility.
“We are delighted with the commercial property we are in the process of buying in Willoughby, Ohio. It gives Intellitronix the opportunity to upgrade its footprint to a larger facility in accordance with its expansion plans. We will no longer have to lease a building. With the anticipated purchase, we should see positive benefits to our bottom line and our shareholders,” said Paul Spivak, CEO of the U.S. Lighting Group.
The company’s multi-year strategic plan includes growing the business, increasing sales, and entering into new markets with innovative products. To achieve these strategic goals, Intellitronix has plans to expand its production and warehouse operations, engineering and shipping departments, and workforce. The facility will provide additional space needed to move forward on development projects. The commercial building has 24,000 sq. ft. of manufacturing, warehouse and office space and sits on 2.29 acres of land.
About Intellitronix Corporation
Intellitronix is a U.S. manufacturer of LED lighting and microprocessor-controlled LED gauges, which are high-quality, energy-saving devices for the automotive aftermarket, sold internationally. The company’s products are “Made in the USA with Domestic and Imported Parts” at its own manufacturing facility located near Cleveland, Ohio. Intellitronix is a wholly-owned subsidiary of the US Lighting Group. www.intellitronix.com
About U.S. Lighting Group, Inc.
US Lighting Group is a leading manufacturer of electronics, supplying growth sectors such as LED lighting, automotive, RV, and marine electronics, custom designed LED products, microprocessor-controlled LED instrumentation, custom private labeled electronics, and high-tech robotics. The company has manufacturing and R&D facilities in Cleveland, Ohio with an international sales distribution network. For more information about the US Lighting Group (USLG), please visit www.uslightinggroup.com.
Statements included in this press release, including but not limited to the closing of the purchase of a building and other than statements of historical fact, are forward-looking statements made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are typically, but not always, identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements.
U.S. Lighting Group, Inc.
34099 Melinz Pkway, Unit E
Eastlake, OH 44095 USA
T: +1 216.896.7000 ext. 207