HUIZHOU, China, Jan. 19, 2011 /PRNewswire-Asia-FirstCall/ --
China Intelligent Lighting and Electronics, Inc. ("China
Intelligent" or "the Company") (NYSE Amex: CIL), a leading provider
of lighting solutions that engages in the design, manufacture,
sales and marketing of high-quality LED and other lighting
products, today announced that it has leased a new facility in
Huizhou, China, which opened on
Tuesday, January 18, 2011. The
facility is approximately 215,000 square feet in size, and the
Company will use the facility to house production lines, a research
and development lab and office space.
Ms. Li Xuemei, Chairman and CEO
of China Intelligent, said, "We are excited to open our new
facility in Huizhou, where we will
design and manufacture new and innovative lighting products and LED
components. We believe that our investments to expand our
manufacturing capacity, as part of our strategic development plan,
will be a material revenue growth driver for China Intelligent. Our
R&D initiatives at the facility will focus on industrial design
and product development in order to extend our leading position in
the industrial design space. We believe that our advanced
manufacturing capabilities and cost structure have already put us
at forefront of China's lighting
industry, and expect that our operational efficiency will continue
to improve as we launch new products and expand the sales of our
existing LED products, enabling us to reduce our per unit cost of
materials, components and manufacturing."
The Company has invested approximately US$1.0 million in five new production lines for
the new space, including a production line for LED street lamp
components. Management expects that the five new production lines,
at full capacity, will be capable of increasing the Company's total
capacity on an annual basis by approximately 20%. The Company
expects installation of these five lines to be completed in
January 2011. Following the
completion of pilot runs, management expects these five lines to
begin production by the end of March
2011.
The Company is proud to have hired five engineers with extensive
lighting industry experience to work in its new R&D lab, which
will be focused on new product development and LED technology
innovations.
About China Intelligent Lighting and Electronics,
Inc.
China Intelligent Lighting and Electronics, Inc. (NYSE Amex:
CIL; CUSIP No: 16890G202) is a China-based company that provides a full range
of lighting solutions, including the design, manufacture, sales and
marketing of high-quality LED and other lighting products for the
household, commercial and outdoor lighting industries in
China and internationally. The
Company currently offers over 1,000 products that include LEDs,
long life fluorescent lights, ceiling lights, metal halide lights,
super electric transformers, grille spot lights, down lights, and
recessed and framed lighting.
For more
information, please contact:
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Investor
Relations:
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China Intelligent Lighting
and Electronics, Inc.
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Peter Zhu
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Tel:
+1-646-380-2453
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Taylor Rafferty,
US
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Delia Cannan, Investor
Relations
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Tel:
+1-212-889-4350
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Email:
ChinaIntelligentLighting@taylor-rafferty.com
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Taylor Rafferty, Hong
Kong
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Amy Cheng, Investor
Relations
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Tel:
+852-3196-3712
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Email:
ChinaIntelligentLighting@taylor-rafferty.com
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SOURCE China Intelligent Lighting and Electronics, Inc.