SATELLITE BEACH, Fla., June 24 /PRNewswire-FirstCall/ -- In a move that is expected to strengthen and grow America's manufacturing base, Lighting Science Group, a leading U.S. maker of LED lighting, has entered into a relationship with U.S. die cast company Pace Industries for Pace to supply key components to Lighting Science Group. The alliance is expected to increase Lighting Science Group's manufacturing capacity and efficiency as a result of the reduction in supply times for critical LED product components. The outcome: an increase in the number of high performance, affordably priced, environmentally friendly, long-lasting, and energy efficient LED lighting products for sale.
"This is a perfect American manufacturing match," said Zach Gibler, Chief Executive Officer of Lighting Science Group. "The relationship will not only help increase our manufacturing capacity and efficiency, but it will also provide an opportunity to grow our U.S. workforce and increase sales. This is a win-win-win situation — good for Lighting Science Group, good for Pace Industries, and good for America."
In order to meet the increasing demand for its LED lighting products, Lighting Science Group expects to expand its manufacturing capacity, to create a substantial number of new jobs, and to tap Pace Industries for increased supply requirements of die cast components.
"In an era where many manufacturing jobs are being created overseas, this alliance will assist in creating jobs right here at home," said Scott Bull, Chief Executive Officer of Pace Industries. "We are very excited to be working with Lighting Science Group in the production of their next generation LED lighting products."
Pace Industries Harrison Division, located in Arkansas, will supply Lighting Science Group's Florida manufacturing facility with die cast components for its residential, commercial and infrastructure product lines, including the high performance, ultra-efficient, and affordably priced DEFINITY retrofit LED lamps, Traditional series luminaires, C2D Site and Area lighting family, and the PROLIFIC series of roadway luminaires.
About Pace Industries
Pace Industries is North America's largest custom aluminum die-casting company with resources in aluminum, zinc and magnesium. The company formerly known as Leggett & Platt Aluminum Group houses 14 manufacturing facilities in the United States and Mexico, including: nine die-casting divisions, three tool and die shops, and one finishing and painting facility with more than 2,700 total associates. Visit www.paceind.com for more details.
About Lighting Science Group
Lighting Science Group Corporation (Pink Sheets: LSCG) designs, develops, manufactures and markets LED lighting solutions that are environmentally friendlier and more energy efficient than traditional lighting products. LSG offers retrofit LED lamps in form factors that match the form factor of traditional lamps or bulbs and LED luminaires for a range of applications including public and private infrastructure for both indoor and outdoor applications. LSG's Custom Solutions business unit designs, develops and manufactures custom LED lighting solutions for architectural and artistic projects. LSG is headquartered in Satellite Beach, Florida; LSG's Custom Solutions business unit is based in Rancho Cordova, California; LSG's European operations are based in Goes, The Netherlands; and, LSG has sales offices in Tokyo, Japan, Buckinghamshire, England and Sydney, Australia. LSG has over 200 workers in its Satellite Beach, Florida manufacturing facility building LED lighting products from domestic and imported parts. LSG is a Pegasus Capital Advisors portfolio company. More information about LSG is available at www.lsgc.com.
Forward Looking Statements Certain statements in this press release may constitute "forward-looking statements" made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The statements include, but are not limited to statements regarding the performance of LSG and the performance of LSG's products using terminology such as "increasing,"," "expand," "leading," "advance," "success," "will," "should," "expected," "unparalleled," "would," "could," "expect," "intend," "plan," "anticipate," "believe," "potential," "opportunity," "greater," "preparing," "excellent," "substantial," "increase," "grow," or "extensive." Such statements reflect the current view of LSG with respect to future events and are subject to certain risks, uncertainties and assumptions. Known and unknown risks, uncertainties and other factors could cause actual results to differ materially from those contemplated by the statements. In evaluating these statements, you should specifically consider various factors that may cause our actual results to differ materially from any forward-looking statements. Readers should carefully review the risk factors detailed under "Risk Factors" in our Form 10-K's, Form 10-Q's and other Securities and Exchange Commission filings.
SOURCE Lighting Science Group Corporation