NEW YORK, Feb. 23, 2016 /PRNewswire/ -- Trans-Lux Corporation (OTC Pink: TNLX) ("Trans-Lux"), a leading supplier of Digital Displays and next generation LED lighting, announced today plans to build a new, state-of-the-art LED Display and Lighting manufacturing facility in the United States. The company also unveiled plans to onshore production. The announcement was made by J.M. Allain, President and CEO.
"Not only are we committed to a new facility with advanced equipment, but we are proud to announce a continuation of our strategy to onshore a significant amount of manufacturing currently done in China. We believe that this strategy allows for superior quality, shorter lead times and cost savings" said Mr. Allain.
The company has selected Prima Power as the supplier of the new manufacturing equipment after a long process to identify needs and requirements. The company expects to begin turning up the new equipment in the next few months.
"While the majority of our competitors increase their reliance on various OEM factories in Asia, we are doing the opposite. We believe that manufacturing our products in America provides us with strategic advantages as well as allowing for the quality that our customers demand. Fundamentally, this allows us to control our own destiny here at home and have our production closer to our engineering staff and customers," he concluded.
Trans-Lux Corporation is a leading designer and manufacturer of TL Vision digital video displays and TL Energy LED lighting solutions for the financial, sports and entertainment, gaming, education, government, and commercial markets. With a comprehensive offering of LED Large Screen Systems, LCD Flat Panel Displays, Data Walls and scoreboards (marketed under Fair-Play by Trans-Lux), Trans-Lux delivers comprehensive video display solutions for any size venue's indoor and outdoor display needs. TL Energy enables organizations to greatly reduce energy related costs with green lighting solutions. For more information please visit www.Trans-Lux.com.
This press release may contain "forward-looking statements", as such term is used within the meaning of the Private Securities Litigation Reform Act of 1995. These "forward-looking statements" are not based on historical fact and involve assessments of certain risks, developments, and uncertainties in Trans-Lux's business looking to the future. Such forward-looking statements can be identified by the use of terminology such as "may", "will", "should", "expect", "anticipate", "estimate", "intend", "continue", or "believe", or the negatives or other variations of these terms or comparable terminology. Forward-looking statements may include projections, forecasts, or estimates of future performance and developments. These forward-looking statements are based upon assumptions and assessments that Trans-Lux believes to be reasonable as of the date hereof. Whether those assumptions and assessments will be realized will be determined by future factors, developments, and events, which are difficult to predict and may be beyond Trans-Lux's control. Actual results, factors, developments, and events may differ materially from those Trans-Lux assumed and assessed. Risks, uncertainties, contingencies, and developments, including those discussed in Trans-Lux's filings with the SEC, could cause Trans-Lux's future operating results to differ materially from those set forth in any forward-looking statement. There can be no assurance that any such forward-looking statement, projection, forecast or estimate contained can be realized or that actual returns, results, or business prospects will not differ materially from those set forth in any forward-looking statement. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Trans-Lux disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.
SOURCE Trans-Lux Corporation