US Lighting Group Announces Plans to Start Up RVtronix to Manufacture RV Electronics
US Lighting Group (OTC:USLG) announced the formation of a new division, RVtronix, intended to design and manufacture RV electronics and fiberglass products. This move follows the sale of its Intellitronix unit. The company aims to leverage its expertise to penetrate the growing RV market, estimated at USD 77 billion by 2026, with a projected CAGR of 6% from 2020 to 2027. Upcoming products include an AC/DC power center with energy management capabilities. CEO Paul Spivak asserts that this expansion will enhance shareholder value and market reach.
- Formation of RVtronix targeting the RV electronics market.
- Potential market growth with RV market projected to reach USD 77 billion by 2026.
- Introduction of innovative products, including an energy management system.
- None.
EUCLID, Ohio, May 20, 2021 (GLOBE NEWSWIRE) -- The US Lighting Group, Inc. (OTC:USLG) announced today that the company intends to form a new division, RVtronix, to design, manufacture, and distribute RV Electronics and fiberglass products to the RV Industry. The formation of the new division, RVtronix, comes on the heels of the sale of Intellitronix, a manufacturer of automotive aftermarket gauges.
“The US Lighting Group is excited to announce another phase of its 2021 Strategic Business Plan to utilize our electronics know how and expertise to expand our growth potential into the much larger RV market. By forming RVtronix, we intend to file for US and International patents and release a line of RV AC/DC power center with an integrated energy management load shedder system for recreational vehicles. It’s the ultimate system for preserving power and balancing appliance usage with resource management. We have many other electronic products that are already in the queue. With the new product line of RV Electronics products, we will reach a broader market of B2B customers,” said Paul Spivak, CEO of the US Lighting Group.
Mr. Spivak continues, “There are additional electronics products that are currently in development for the RV market as well. Expanding the US Lighting Group to include RVtronix will have positive benefits for the US Lighting Group shareholders and allow the company to grow our position in the RV marketplace.”
Global recreational vehicle (RV) market was estimated at USD 51 billion in 2019 and is expected to reach USD 77 billion by 2026. The global RV market is expected to grow at a compound annual growth rate (CAGR) of
About U.S. Lighting Group, Inc.
US Lighting Group (OTC:USLG) is a holding company that currently consists of Cortes Campers, a revolutionary manufacturer of recreational vehicles utilizing vacuum infusion and the highest quality marine materials to create lighter weight, stronger, and more durable RV travel trailers and campers. Fusion X Marine is boat manufacturer and franchisor that is in the process of selling worldwide mini powerboat rental franchises to fill an untapped niche. Futuro Houses plans to manufacture composite off grid houses for the tiny house market. The companies have manufacturing and R&D facilities in Cleveland, Ohio. All divisions are in the process of setting up worldwide exclusive territory sales distribution networks. uslightinggroup.com
Forward-Looking Statements
Statements included in this press release, other than statements of historical fact, are forward-looking statements made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are typically, but not always, identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements.
Contact
US Lighting Group
1148 East 222nd Street
Euclid, OH 44117 USA
T: +1 216.896.7000
shareholder-relations@uslightinggroup.com
FAQ
What is the purpose of the new division RVtronix by US Lighting Group?
What is the projected growth of the RV market mentioned in the USLG press release?
What innovative product is US Lighting Group planning to launch through RVtronix?
When did US Lighting Group announce the formation of RVtronix?
