Carmanah Acquires EKTA Marine Aids
Carmanah Technologies Corporation has completed the acquisition of the EKTA marine aids to navigation assets from Cybernetica AS of Estonia. The company had previously announced its intention to acquire the EKTA branded products and contracts on November 29th, 2016. "The acquisition accomplishes two important steps in our growth strategy," said John Simmons, Carmanah CEO. "The ETKA products will strengthen our worldwide product portfolio and allow us to provide more comprehensive single-source solutions for our marine customers. Under the terms of the agreement the purchase price will be EUR1.35 million and will be paid by way of EUR1 million in cash on closing and EUR0.35 million on the first anniversary of closing.
USCG Approves Carmanah Solar LED Marine Lights
lights for use on USCG aids to navigation. This approval was released by the Commandant for the USCG through Notice 16500 - issued on July 30, 2002 and entitled "Equipment for Discrepancy Buoy/Small Lighted Buoy Applications". "We are extremely pleased to have this approval, as it adds third-party credibility to our products by one of the world's most sophisticated and respected marine authorities", states Art Aylesworth, CEO of Carmanah. The USCG has been testing versions of the 700 Series since the original design was built in 1999 under USCG contract. "We expect this endorsement to have a significant impact on the success of our international marine sales program." Notice 16500 represents one of the first approvals of LED-based marine lights by the USCG.
