Catalina Lighting Acquires Tensor Corporation, a Leading Distributor of Task Lighting Products
November 23 2005 - 12:41PM
PR Newswire (US)
MIAMI, Nov. 23 /PRNewswire-FirstCall/ -- Catalina Lighting, Inc.
(OTC:CALA), a leading international manufacturer, designer, and
distributor of lighting products for residential and office
environments, today announced that it has purchased Tensor
Corporation ("Tensor"), a Boston-based international designer,
manufacturer, and distributor of lighting products for residential
and office environments. Tensor CEO and sole owner, Roger Sherman,
will join Catalina Lighting in a senior sales capacity. Terms of
the transaction were not disclosed. Robert Varakian, CEO of
Catalina Lighting, commented, "We are very pleased to be able to
add Tensor Corporation brand to our collection of product
offerings. Tensor has done an excellent job in developing its desk
lighting category, particularly its 'Vision Max' daylight lighting
program. We hope to enhance the value of Tensor's assets by
leveraging Catalina's international design, manufacturing, and
sourcing capabilities." Roger Sherman, CEO of Tensor, said, "I am
excited to be joining the Catalina team. The additional
capabilities that Catalina offers will be a major asset in growing
Tensor's brand and expanding its range of product offerings to our
customer base going forward." About Catalina Lighting, Inc.
Catalina Lighting, Inc. (OTC:CALA) is a leading international
designer, manufacturer, and distributor of residential and office
lighting products. The Company's broad product line includes
functional and decorative table lamps; ceiling, wall, recessed,
vanity and track lighting fixtures; emergency and outdoor lighting;
and chandeliers. Its line is distributed under several brand names,
including: Catalina(R), Dana(R), Ring(R), Illuminada(R) and
Aziano(TM). The Company also functions as an original equipment
manufacturer, selling goods under its customers' private labels.
Forward-Looking Statement This press release includes statements
that constitute "forward-looking" statements, including, without
limitation, that the Company anticipates that the Company's common
stock will be quoted on the Pink Sheets, and believes that
deregistering will reduce certain expenses and enable management to
focus more time and resources on the operations of the Company.
These statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements inherently involve risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements. The risks and uncertainties
that may affect the operations, performance, growth, and results of
the Company's business include, but are not limited to, the
following: failure to have at least one market maker continue to
make a market in the Company's common stock on the Pink Sheets
following delisting and deregistration; becoming subject to the
Exchange Act in the future due to the filing of a registration
statement; economic factors, regulatory changes or legislative
enactments that adversely affect the Company's business; and other
risks detailed in the Company's periodic filings with the
Securities and Exchange Commission. The forward-looking statements
included herein are made as of the date of this press release and
the Company undertakes no obligation to update these statements for
revisions or changes after the date of this release. Contact: Allen
& Caron Catalina Lighting, Inc. Jesse Deal (investors) Anthony
Borzillo Chief Financial Officer (212) 691-8087 (305) 558-4777
DATASOURCE: Catalina Lighting, Inc. CONTACT: Investors, Jesse Deal
of Allen & Caron, +1-212-691-8087, , for Catalina Lighting,
Inc.; or Anthony Borzillo, Chief Financial Officer of Catalina
Lighting, Inc., +1-305-558-4777
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