Acuity Brands, Inc. (NYSE: AYI) today announced it has acquired for cash
substantially all the assets and assumed certain liabilities of Mark
Lighting Fixture Company, Inc. (?Mark
Architectural Lighting?), located in Edison,
NJ. Mark Architectural Lighting is a specification-oriented manufacturer
of high-quality lighting products. Additionally, Mark Architectural
Lighting is an innovative and creative resource within the architectural
design community, leveraging extensive capabilities to allow designers
to fully express their vision from inception to completion. Mark
Architectural Lighting, with fiscal year 2006 sales of over $22 million,
will continue operations in its existing facility, focusing on key
customers and competencies.
The acquisition gives Acuity Brands Lighting a stronger presence in the
Northeast, particularly the New York City metropolitan area, and is a
complement to the Center for Light+Space, the recently opened Acuity
Brands Lighting sales and marketing office in New York City. Mark
Architectural Lighting's leading-edge design
expertise and innovative products will enhance the growing portfolio of
specialty brands at Acuity Brands Lighting.
Vernon J. Nagel, Chairman, President, and Chief Executive Officer of
Acuity Brands, said, ?Mark Architectural
Lighting brings additional vigor to our growing portfolio of specialty
brands. This acquisition is part of our broader strategy to enhance our
service to the architectural community, particularly in New York City,
and to expand Mark Architectural Lighting's
access to market through our industry leading network of sales agencies.
We expect this acquisition to allow us to deliver even greater value to
our customers, sales representatives, employees, and shareholders, and
to be accretive to fiscal year 2008 earnings.?
Scott Coppola, Vice President and General Manager of the new business
unit, added ?Mark Architectural Lighting has
grown rapidly over the past few years, and we determined the best way to
sustain that growth was to access new resources. We are delighted to
become a part of the Acuity Brands Lighting family, the acknowledged
leader in the lighting industry.?
Acuity Brands, Inc., with fiscal year 2006 net sales of approximately
$2.4 billion, is comprised of Acuity Brands Lighting and Acuity
Specialty Products. Acuity Brands Lighting is one of the world's leading
providers of lighting fixtures and includes brands such as Lithonia
Lighting®, Holophane®,
Peerless®, Hydrel®,
American Electric Lighting®, Gotham®,
Carandini®, SpecLight®,
MetalOptics® and Antique Street Lamps?.
Acuity Specialty Products is a leading provider of specialty chemicals
and includes brands such as Zep®, Zep
Commercial®, Enforcer®,
and Selig?. Headquartered in Atlanta,
Georgia, Acuity Brands employs approximately 10,000 people and has
operations throughout North America and in Europe and Asia.
Forward Looking Information
This release contains forward-looking statements, within the meaning of
the Private Securities Litigation Reform Act of 1995. Statements that
may be considered forward-looking include statements incorporating terms
such as "expects," "believes," "intends," "anticipates" and similar
terms that relate to future events, performance, or results of the
Company. Forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from
the historical experience of Acuity Brands and management's present
expectations or projections. These risks and uncertainties include, but
are not limited to, customer and supplier relationships and prices;
competition; ability to realize anticipated benefits from initiatives
taken and timing of benefits; market demand; litigation and other
contingent liabilities; and economic, political, governmental, and
technological factors affecting the Company's operations, tax rate,
markets, products, services, and prices, among others. Please see the
other risk factors more fully described in the Company's SEC filings
including the Quarterly Report on Form 10-Q filed with the Securities
and Exchange Commission on July 10, 2007.
Acuity Brands, Inc.
Dan Smith, 404-853-1423
bourse
