News Release: Carmanah Technologies Corporation (TSX: CMH)
Carmanah Technologies Corporation and Laser Guidance Inc. Sign New Long-Term Exclusive Agreement
Increased Aviation Precision Approach Lighting Portfolio
VICTORIA, BC, CANADA (April 18, 2012) - Carmanah Technologies Corporation (TSX: CMH) and Laser Guidance Inc., a pioneer in aviation precision guidance systems, have signed a new five year Exclusive Cooperation Agreement. Under the terms of the agreement, Carmanah will have the exclusive world-wide marketing license for a portfolio of Laser Guidance aviation navigation aids including versions of Precision Approach Path Indicators ("PAPIs"), Helicopter Approach Path Indicators ("HAPIs") and Medium Intensity Approach Light System with Runway Alignment Indicator Light ("MALSR"). In addition, both companies will cooperate on a wide range of strategic development and manufacturing efforts, as well as marketing campaigns. The agreement represents a formal recognition of a long-standing successful working relationship and unites two world market leaders in complementary aviation lighting technologies. Carmanah and Laser Guidance will now be able to offer a comprehensive suite of aviation lighting solutions including a precision approach runway lighting capability.
"We are very pleased to partner with Laser Guidance," said Carmanah CEO Bruce Cousins. "There is an enormous synergy between Carmanah's offerings to the aviation community and the Laser Guidance product line. Together we provide an incredible range of airfield lighting solutions. The global movement toward more energy efficient and solar powered airfields and continuing advancements in aviation lighting technology are creating radical changes in how airfields all over the globe operate. Carmanah, our partner ADB, and now Laser Guidance are leading that change."
Dr. David Shemwell, Laser Guidance CEO, stated, "Partnering with Carmanah is a very exciting development. Both companies have led the way in research and development for decades, and each has brought new technology from the lab to the airfield with consistent, high-quality results. We believe both organizations and the aviation community as a whole will benefit from the partnership's extensive experience, market knowledge, and expanded range of products."
