PHI Group plans acquisition Nord Energy to extend LED street lighting offering
Nord Energy produces proprietary advanced light-emitting diode (LED) lighting systems that can save 80% of electricity compared to traditional sodium lights.
PHI Group will pay the majority shareholders of NE a combination of cash and stock and will invest in NE to increase the production and sale of LED street lighting systems as well as launch its kinetic power supply products in Asia Pacific.
Nord Energy has successfully installed its 56 W LED street lighting units in several provinces in Southern Vietnam, Nigeria, Mexico and Germany, using a combination of proprietary German and Japanese technologies and production facilities in Vietnam.
Henry Fahman, Chairman and CEO of PHI Group, concurred: "We believe our partnership with Nord Energy is a perfect fit for our double-tracked energy strategy to provide better solutions for the ever-growing energy demand in the years to come."
Visit PHI Group at www.phigroupinc.com
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