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Article: Carmanah Divests of LED Edge-Lit Signs Business to Continue Focusing on Strategic Solar Lighting & Power Technology Markets.
- Article from:
- Business Wire
- Article date:
- August 18, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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VICTORIA, British Columbia -- Carmanah Technologies Corporation (TSX: CMH) is pleased to announce that the Company and Dr. David Green have today closed on an agreement whereby Dr. Green, through his holding company, has purchased Carmanah's LED edge-lit signs business, Carmanah Signs Inc. ("CSI"). This transaction is aligned with Carmanah's business strategy to focus on strategic solar lighting and technology markets. As part of the transaction, Dr. Green has resigned as a member of the Carmanah Board of Directors in order to pursue this opportunity.
Under the agreement, Dr. Green, through an incorporated company controlled by him, will pay a combined total of ...