Carmanah, a maker of solar powered LED lighting based in Victoria, British Columbia, Canada announces that it has sold its Road Signs business to Temple Inc. of Decatur, Alabama. Two companies have signed the definitive agreement.
Under the agreement, Temple has purchased the inventories and other assets of Carmanah’s illuminated road signs business. In addition to product inventory the purchase will include associated marketing material and customer and vendor lists. Carmanah says it will assist with the manufacturing and sales-support functions throughout the 90-day transition period. According to Carmanah CEO Ted Lattimore, the agreement underscores Carmanah’s continued focus on its strategic solar power and solar LED lighting markets.
Carmanah CEO Ted Lattimore noted that while the road-signs business represents a unique and significant opportunity, this divestiture will enable Carmanah to focus on its core strengths, while ensuring that this innovative technology can continue to fulfill its potential as a bright and effective roadway enhancement. As an LED alternative to traditional street and traffic signs, Carmanah’s innovative edge-lit design combines reduced installation and maintenance costs with improved visibility, reliability, durability and energy efficiency over conventional fluorescent signage.
Lattimore continued that Temple, as one of Carmanah’s top distributors, has consistently demonstrated its industry knowledge, technical expertise, and commitment to customer satisfaction. In this new capacity, Temple can continue to provide illuminated roadway signs to Carmanah customers and distributors, while further developing the business to reach new customers. Carmanah edge-lit signs are currently in use within every province and state across North America.
Blake Temple, CEO of Temple Inc, indicated that they’re very happy to add LED street and traffic signs to the Temple product line.
About Temple Inc.
Now in its 56th year in the traffic control industry, Temple, Inc. is one of the leading traffic control suppliers and manufacturers in the southeastern United States. Temple, Inc. is a privately owned family-held corporation. For more information, visit temple-inc.com.
About Carmanah Technologies Corporation
As one of the most trusted names in solar technology, Carmanah has earned a reputation for delivering strong and effective products for industrial applications worldwide. Industry proven to perform reliably in some of the world's harshest environments, Carmanah solar LED lights and solar power systems provide a durable, dependable and cost effective energy alternative. Carmanah is a publicly traded company, with common shares listed on the Toronto Stock Exchange under the symbol "CMH”. For more information, visit www.carmanah.com.