PhotonStar LED Will Take Over Enfis
Dec 1, 2010 PhotonStar LED Ltd (UK-based LED lighting manufacturer) will take over Enfis Group plc, which is a developer of LED arrays and drivers for lighting and industrial applications and was listed on the AIM stock exchange in March 2007. With the shareholder’s agreement, Enfis will be named PhotonStar LED Group plc and in late December will be list on the AIM stock exchange again.
James McKenzie and Majd Zoorob who was co-founders and directors of PhotonStar, would become Chief Executive Officer and Chief Technology Officer respectively of the new company. Ceri Jones, who is the current Enfis CEO, would become Chief Financial Officer of the new company.
When the deal was complete, PhotonStar would have a total of 86.39 million Ordinary Shares, versus 15.2 million at present. The company planed to add lighting fixtures for architectural and retail markets using Enfis Group arrays and drivers to extend its product range. And the new products would be sold through PhotonStar's sales team and existing distribution channels.
Also, PhotonStar would use Enfis Group's resources to accelerate the development of its SmartWhite technology which is planed to lower the manufacturing cost of certain products in PhotonStar's product range. Enfis Group would remain focus on the supply of arrays and light engines to specialist sectors such as film and TV production lighting and UV curing.
With the combination of its technology and Enfis Group array products, PhotonStar planed to develop a range of highly integrated light engines and controls for use in general illumination.
Author: BIO T&T
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