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EUCLID, Ohio, May 20, 2021 (GLOBE NEWSWIRE) -- The US Lighting Group, Inc. (OTC:USLG) announced today that the company intends to form a new division, RVtronix, to design, manufacture, and distribute RV Electronics and fiberglass products to the RV Industry. The formation of the new division, RVtronix, comes on the heels of the sale of Intellitronix, a manufacturer of automotive aftermarket gauges.
“The US Lighting Group is excited to announce another phase of its 2021 Strategic Business Plan to utilize our electronics know how and expertise to expand our growth potential into the much larger RV market. By forming RVtronix, we intend to file for US and International patents and release a line of RV AC/DC power center with an integrated energy management load shedder system for recreational vehicles. It’s the ultimate system for preserving power and balancing appliance usage with resource management. We have many other electronic products that are already in the queue. With the new product line of RV Electronics products, we will reach a broader market of B2B customers,” said Paul Spivak, CEO of the US Lighting Group.
Mr. Spivak continues, “There are additional electronics products that are currently in development for the RV market as well. Expanding the US Lighting Group to include RVtronix will have positive benefits for the US Lighting Group shareholders and allow the company to grow our position in the RV marketplace.”
Global recreational vehicle (RV) market was estimated at USD 51 billion in 2019 and is expected to reach USD 77 billion by 2026. The global RV market is expected to grow at a compound annual growth rate (CAGR) of 6% from 2020 to 2027. The recreational vehicles markets in the US and Europe are expected to witness rapid growth due to increasing integration of advanced technologies in RVs.
About U.S. Lighting Group, Inc.
US Lighting Group (OTC:USLG) is a holding company that currently consists of Cortes Campers, a revolutionary manufacturer of recreational vehicles utilizing vacuum infusion and the highest quality marine materials to create lighter weight, stronger, and more durable RV travel trailers and campers. Fusion X Marine is boat manufacturer and franchisor that is in the process of selling worldwide mini powerboat rental franchises to fill an untapped niche. Futuro Houses plans to manufacture composite off grid houses for the tiny house market. The companies have manufacturing and R&D facilities in Cleveland, Ohio. All divisions are in the process of setting up worldwide exclusive territory sales distribution networks. uslightinggroup.com
Statements included in this press release, 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.
US Lighting Group
1148 East 222nd Street
Euclid, OH 44117 USA
T: +1 216.896.7000