Carmanah Acquires Information Display Company

VICTORIA, BC, CANADA (October 2, 2018)

Carmanah Technologies Corporation (TSX: CMH) (“the Company” or “Carmanah”) today announces that it has completed an acquisition of Information Display Company (“IDC”).

Headquartered in Portland, Oregon, IDC was established in 1993 and is one of the industry’s most respected names in radar speed signs. IDC’s portfolio of radar speed display signs is complementary to Carmanah Traffic’s product lineup of traffic beacons. Over the coming months, Carmanah will focus on the integration of IDC with Carmanah Traffic. Management control of IDC will be effected by the management of Carmanah’s Traffic division, located in Victoria, Canada.

“The acquisition of IDC will enhance our Traffic division’s product portfolio and provide a more complete product offering to both our distributors and end customers,” said John Simmons, Carmanah CEO. “This acquisition continues our growth strategy in the Signals market.”

The purchase price was USD $1.45 million, subject to certain adjustments and holdbacks.

About Carmanah Technologies Corporation

Carmanah designs, develops, and distributes a portfolio of products focused on energy optimized LED solutions for infrastructure. Since 1996, we have earned a global reputation for delivering durable, dependable, efficient, and cost-effective solutions for industrial applications that perform in some of the world’s harshest environments. We manage our business within two reportable segments: Signals and Illumination. The Signals segment serves the Airfield Ground Lighting, Aviation Obstruction, Offshore Wind, Marine, Traffic, and Telematics markets. The Illumination segment provides solar-powered LED outdoor lights for municipal and commercial customers.

Contact

Carmanah Technologies Corporation:
Evan Brown,
250-380-0052
Chief Financial Officer/Corporate Secretary
investors@carmanah.com

 

This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “expects,” “estimates,” “could,” “will” or variations of such words and phrases. Forward-looking statements or information in this news release relate to, among other things: revenues, and revenue growth. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Carmanah or Sabik to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements.

These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. Carmanah disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

 For additional information on these risks and uncertainties, see Carmanah’s most recently filed Annual Information Form (AIF) and Annual MD&A, which are available on SEDAR at www.sedar.com and on the Company’s website at www.carmanah.com. The risk factors identified in Carmanah’s AIF and MD&A are not intended to represent a complete list of factors that could affect Carmanah.

 

 

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