Colorado vNet Winds Down Operations to Focus on Product R&D for Late 2011

Dec 29, 2010, 15:00 ET from Colorado vNet Corp.

LOVELAND, Colo., Dec. 29, 2010 /PRNewswire/ -- Home Automation and Lighting Manufacturer Colorado vNet Corp. today announced it is winding down operations and will discontinue the Colorado vNet product line to reassess its product line as it relates to the evolving custom install market. The announcement was made by the Chief Executive Officer of Colorado vNet Corp., Charlie Porritt.

"Colorado vNet has a great reputation in the marketplace, but as the needs of the market shift in tandem with a challenging economy, we need to take a long, hard look at the profit potential of the current product line in relation to the income it generates," said Porritt.  In October 2009, Colorado vNet Corp. purchased the assets of L & B LLC (previously known as Colorado vNet LLC) after the company had effectively ceased operations.

Colorado vNet Corp. will honor all warranties on products that were purchased on or since October 15, 2009 for a limited period of time. Technical support for Colorado vNet will be available by telephone through April 30, 2011. Products purchased prior the acquisition from L & B LLC are not covered.

Earlier this year, Colorado vNet Corp. announced to dealers that a newly updated RF lighting system would be made available to those who need to replace a faulty system that dates back to 2008, nearly two years prior to the acquisition. Colorado vNet Corp. will honor its commitment to the dealers to replace these products. All exchanges are expected to be completed by March 31, 2011.

About Colorado vNet

Colorado vNet manufactures a wide range of whole-house control solutions for lighting, climate, security, CCTV, weather, and distributed digital entertainment. Blending reliability, scalability and flexibility with award-winning contemporary design, Colorado vNet products are quick to install, easy to use, and complement any decor. Colorado vNet is a Russound company with operations headquartered in Newmarket, NH. For more information, visit www.coloradovnet.com.

CONTACT: Adam Sohmer, +1-347-497-4965, adam@sohmerassoc.com

SOURCE Colorado vNet Corp.



RELATED LINKS

http://www.coloradovnet.com