ONTC game plan.
announced today that its subsidiary, NexPhase Lighting, Inc. ("NexPhase"), a designer, developer and manufacturer of high efficiency, high quality LED intelligent lighting fixtures, is undergoing a site search review in order to find a new headquarters and main manufacturing and distribution facility that will meet our future business expansion plans.
Ty Ramsey, COO of NexPhase, stated, "I have been directed by the Board of Directors of NexPhase to conduct a site search review for our future headquarters and main manufacturing and distribution facility. With our continued project and product release flow we are moving up the timetable for this facilities expansion. Our business model is creating many business opportunities and we need to be proactive so that we can continue to scale up our operations to meet these opportunities. I expect this site review will take no more than forty-five days and our hope is that we could be moving some of our operations by the beginning of 2012. We are not ruling out taking additional space in a satellite facility if we are unable to find an existing facility that meets our needs. A build to suit options is not preferred but may be considered. The most important factor will be finding a permanent home that can meet our growing business needs and plans.
About Onteco Corporation
Onteco Corporation was founded to develop innovative, practical and cost-effective solutions to some of the most significant environmental challenges facing us today. Additionally, these solutions must show promise of generating significant, ongoing profits for the company. The company determined that one industry that meets these criteria is the Energy Saving Lighting Industry, and as a result acquired NexPhase Lighting, Inc., in February 2011.
Additional information about Onteco Corporation is available at: www.Onteco.com
