Eco-Shift Signs Agreement With Leading Global LED Lighting Distributor; Sprocket Designates Company Its Sole Provider of LED LightingBy admin In Marketwired
GUELPH, ON — (Marketwired) — 02/16/16 — Eco-Shift Power Corp. (OTC PINK: ECOP), a global producer of advanced LED lighting products, today announced it has signed a distribution agreement with Sprocket International, a leading global LED lighting distributor.
Under the terms of the Agreement, Sprocket will provide Eco-Shift exclusive access to its world class clientele by designating the Company as its sole provider of LED lighting products and components.
The Santa Monica, CA-based Sprocket team has a proven sales track record with about $75 million in annualized LED sales globally. With 15 years’ experience distributing both commercial and residential lighting products worldwide, the Sprocket team is well positioned within the lighting industry. A partial list of their current or prior clients includes:
- Major hotels, such as The Peninsula, Hilton and Marriott
- Major facility management companies, including Fastenal (2,800 locations) and Rexel
- Big box retailers, such as Sears, Bed Bath & Beyond, Target, Costco, and Walmart
- Theme parks, such as Disneyland Tokyo
- Industry e-commerce companies, including the top-ten online electrical resellers
- Casinos, such as Harrah’s, Caesars Palace, Golden Nugget and Wynn
- Entertainment industry, including CBS game shows Wheel of Fortune, Jeopardy and Price is Right.
The Company expects its Sprocket driven sales will begin to ramp up substantially beginning in the second quarter, 2016.
Sprocket will represent Eco-Shift’s new 2016 catalogs with its clients, along with Eco-Shift’s international distributors and/or resellers being brought on in Europe, Australia, Latin America, South Africa and the Middle East. This strategy reflects Eco-Shift’s collaborative, win-win management style that further distinguishes the Company as the up and coming industry leader. Accordingly, Eco-Shift in 2016 expects to sign and announce several other distribution agreements in specific vertical or geographic markets to ensure thorough market penetration worldwide.
“Sprocket and their highly regarded team of experts are known as the go-to source for leading edge certified LED lighting products,” said Eco-Shift Chief Executive Officer, Alistair Haughton. “We’re excited to be doing business with Sprocket, and we anticipate a highly successful partnership with orders already in process for Q2-16 fulfillment.”
Commenting on the Agreement, Sprocket Vice President Jordan Barnette said, “Sprocket is synonymous with the industry’s top quality LED lighting. We trust Eco-Shift Power to provide the unrivaled quality and reliability our clients have come to expect.
“We found the Eco-Shift emphasis on quality extends throughout its entire product offering ranging from the LED lamps, lenses, diodes and drivers on down to the high quality housing materials, connectors, wiring and solder used on the boards,” Mr. Barnette added. “This commitment to the highest quality, even on the smallest not visible parts, makes Eco-Shift the standout manufacturer and our logical choice.
“Eco-Shift delivers the range and quality of products our clients value — at the large volumes we require — backed by the industry’s best warranties.”
About Eco-Shift Power Corp. Headquartered in Guelph, Ontario, with affiliate and distributor offices strategically located in key markets California, Florida, Auckland NZ, and Scotland, Eco-Shift Power Corp. is a contract manufacturer of advanced, high-efficiency lighting products and components designed for state-of-the-art energy management systems and cloud-based software platforms. It has strong relationships with a growing worldwide customer base composed primarily of major OEM/ODM lighting designers and distributors. Please visit us at www.eco-shiftpower.com
Forward-Looking Statements This news release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond Eco-Shift’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the highly competitive nature of lighting industry sales and distribution, (ii) development and protection of our key OEM/ODM and distribution partnerships, (iii) unexpected industry technological development. More detailed information about Eco-Shift and the risk factors that may affect the realization of forward looking statements is set forth in our filings with the Securities and Exchange Commission (SEC). Investors are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. Eco-Shift assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
Sprocket International Contact:
+1 (276) 870-7493
Source: Eco-Shift Power Corp.