Merger Transaction between TCP and QLS Closes
The transaction is complete and the organizations will begin to combine
AURORA, Ohio, Feb. 28, 2018 /PRNewswire/ — TCP International Holdings, Ltd. (TCP) and Quality Light Source GmbH (QLS), an entity affiliated with Ellis and Solomon Yan, today announced the closure of their merger transaction announced in December 2017. The entities are now able to work together as one and make a stronger impact in the lighting industry.
“The lighting market continues to evolve with the new technology,” said Ellis Yan, newly announced CEO of the combined QLS and TCP organization. “We see this as an opportunity to take all of the great resources and recognition that TCP has in the lighting market and combine that with a new and fresh approach to products and manufacturing that we have developed at QLS.”
“This merger will allow TCP to refocus and do what we do best; design, develop and deliver exceptional lighting products into the market,” said Brian Catlett, outgoing CEO of TCP.
At this time, daily operations of both companies will start to transition to one organization over the next several months to ensure a positive experience for all customers. The combined organization will be communicating directly with customers during this transitional period regarding progress and improvements.
TCP shareholders will receive $1.00 in cash per share that will be dispersed by the individual’s investing institution. Shareholders should contact their investing institution directly with questions regarding the payout.
TCP International Holdings, Ltd. (OTC: TCPIF) is a leading global manufacturer and distributor of energy efficient lighting technologies. TCP’s extensive product offerings include LED and CFL lamps and fixtures and other energy efficient lighting products. TCP is a proud ENERGY STAR® partner of the U.S. Environmental Protection Agency. TCP’s products are currently offered through thousands of retail and C&I distributors. Since TCP’s inception, it has sold more than one billion energy efficient lighting products. For more information, visit www.tcpi.com.
Quality Light Source LLC (QLS) manufactures and sells the latest, most-innovative LED lamps. With over 100 years of cumulative experience, we, a group of seasoned industry experts took a challenge and formed QLS in 2017. We are dedicated to providing the very best solutions that the solid state lighting industry has to offer. For more information, visit www.qlightsource.com
SOURCE TCP International Holdings, Ltd.
Ellis Yan Joins Quality Light Source
Today is a special day for Quality Light Source, as industry legend Ellis Yan joins the Executive Management team of our company as EVP Innovation & Business Development.
In this role, Ellis will oversee all product development activities and acts as liaison between the Sales & Marketing team in the USA and the Technical Product management and Engineering teams in China.
In his Business Development role, he forges strategic alliances both on the demand as well on the supply side. A good example is our recent venture in LED chip packaging.
The Executive Management team of Quality Light Source now consists of Solomon Yan (Chairman), Ellis Yan (EVP) and myself (CEO). This is ESK re-united!
Please join me in welcoming back Ellis Yan to our industry and to Quality Light Source.
-Kaj Den Daas
Kaj Den Daas Joins Quality Light Source as CEO
Quality Light Source (QLS), headquartered in Zhenjiang, Jiangsu Provence, P.R.China, recently announced the appointment of Kaj Den Daas as Chief Executive Officer (CEO). QLS is a vertically integrated manufacturer of LED light bulbs and fixtures.
The company includes four facilities: in China, Shanghai, Zhenjiang, and Jianhu. Shanghai houses Research and Development, Product Management and other support functions. In Zhenjiang, apart from our Headquarters, there is a brand new lamp making facility of 600,000 sq ft with state-of-the-art automated assembly lines. And, the company has an LED chip packaging factory in Jianhu (also in Jiangsu Provence) where the company currently has 300 automated packaging lines.
Finally, the company has a US Sales office and warehouse in Aurora, Ohio.
As QLS’ new CEO, Kaj Den Daas will focus on the company’s growth, with an emphasis on the US and European markets.