CRS Electronics
TSX VENTURE : CRS
TSX VENTURE : LED

CRS Electronics

February 14, 2011 08:02 ET

CRS Electronics Signs License Agreement With Energizer

WELLAND, ONTARIO--(Marketwire - Feb. 14, 2011) - CRS Electronics Inc. ("CRS"), (TSX VENTURE:LED), an inventor, developer and manufacturer of LED lighting, today announced an exclusive agreement with Eveready Battery Company, Inc. a subsidiary of Energizer Holdings, Inc. ("Energizer"), (NYSE:ENR), for CRS to manufacture a suite of LED lighting products under the brand name Energizer. The initial LED suite of products includes the MR16, PAR 20, PAR 30 and PAR 38. Future products developed by CRS may also be considered by Energizer.

This agreement brings together the power of the Energizer® brand with CRS Electronics' leading technology in LED light bulbs. Energizer® branded LED lights will be distributed through commercial and leading retail networks, and will flow through major lighting agents in North America. Shipping of these exciting new products is expected to commence in the third quarter of 2011.

"Expanding our product line to include energy efficient LED lighting is a perfect complement to our global portfolio of innovative power and lighting technologies, and aligned with our new Now That's Positvenergy campaign, which communicates the message of power plus responsibility." said Jim Olsen, Vice President of Marketing for Energizer North America. "CRS was selected for their commitment to excellence in LED lighting technology capabilities and their history of innovation in the LED lighting industry."

"We are honoured to be working with the Energizer® brand name. Partnering with a premium, trusted brand validates our efforts and gives us a competitive edge in the marketplace," said Scott Riesebosch, President, CRS Electronics "This agreement expands our product reach from the commercial space to retail, and from one product line to four, representing a significant growth opportunity for the Company. We are thrilled with the opportunity and will continue to develop new LED products to support our relationship with Energizer."

About Energizer

Energizer Holdings, Inc. (NYSE:ENR), headquartered in St. Louis, Mo., is one of the world's largest manufacturers of primary batteries, portable battery-powered devices, and portable flashlights and lanterns. Energizer is a global leader in the dynamic business of providing power solutions with a full portfolio of products including Energizer® brand battery products Energizer® MAX® premium alkaline; Energizer® Ultimate Lithium; Energizer®Advanced Lithium; Rechargeable batteries and charging systems; and portable flashlights and lanterns.

Energizer continues to fulfill its role as a technology innovator by redefining portable power solutions to meet people's active lifestyle needs for today and tomorrow with Energizer® Energi To Go® chargers for rechargeable portable devices; charging systems for wireless video game controllers; and specialty batteries for hearing aids, health and fitness devices, as well as for keyless remote entry systems, toys and watches. Energizer is redefining where energy, technology and freedom meet to bring to market consumer-focused products that power the essential devices that help people stay connected and on the go at work and at play. Visit www.energizer.com, www.facebook.com/energizerbunny or www.facebook.com/energizer.

About CRS 

CRS Electronics Inc., an Energy Star and Lighting Facts partner, is a leader in the emerging, rapidly-growing market of high efficiency light-emitting-diode ("LED"), or, solid state lighting ("SSL"). The principal activities of CRS include the development, manufacture and sale, primarily in North America, of indoor and outdoor lighting such as LED replacement lamps, LED streetlights, exterior LED warning lights on school buses, child safety systems for school buses and contract manufacturing of LED circuit boards. CRS is a well-established supplier to both the school bus industry and the LED contract manufacturing industry, providing a stable and growing revenue source. CRS plans to be a major supplier of LED light engines for a variety of applications to be developed by CRS on its own and in conjunction with its customers. Several of CRS's customers use CRS LED MR16 lamps to replace up to 50 watt halogen MR16s.

Certain statements contained in this news release constitute forward-looking information, future oriented financial information, or financial outlooks (collectively "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may relate to this news release and other matters identified in CRS's public filings, CRS's future outlook and anticipated events or results and can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts and include, but are not limited in any manner to, those with respect to capital and operating expenditures, economic conditions, availability of markets for products, availability to develop and manufacture products, availability of sufficient financing, receipt of approvals, satisfaction of escrow requirements, satisfaction of closing conditions, obtaining debt financing for capital expenditures, and any and all other timing, development, operational, financial, economic, legal, regulatory and/or political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited in any manner, those disclosed in any other CRS filings, and include the effect of capital market conditions and other factors on capital availability and the ability to complete additional closings; sufficient working capital for development and operations, access to adequate services and supplies, availability of markets for products, commodity prices, foreign currency exchange rates, interest rates, access to capital markets and other sources of financing and associated cost of funds, availability of a qualified work force, availability of manufacturing equipment, no material changes to the tax and regulatory regime and the ultimate ability execute its business plan on economically favourable terms. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in other CRS filings at www.sedar.com and other unforeseen events or circumstances. Other than as required by law, CRS does not intend, and undertakes no obligation to update any forward-looking information to reflect, among other things, new information or future events.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contact Information