SOLON, Ohio, Feb. 18, 2003 (PRIMEZONE) -- Advanced Lighting Technologies, Inc. (OTCBB:ADLTQ) announced the promotion of Sabu Krishnan to the position of Chief Operating Officer of ADLT. Mr. Krishnan's successful creation of Venture Lighting's Indian metal halide facility, the largest production facility for metal halide lamp/ballast components in the Pacific Rim, has enabled ADLT's Venture Lighting Operation to grow both revenues and profits in the most challenging economy in the last decade. Krishnan has a BS degree in Mechanical Engineering from the University of Kerala and received his MBA in Finance from the University of Pittsburgh and has been with ADLT since 1995.
Krishnan's focus will be on streamlining the worldwide Venture Lighting organization and the successful implementation of Lean Manufacturing initiatives. In addition, Krishnan and the lighting team will focus on the continued growth and profitability of the second-generation metal halide technology -- Uniform Pulse Start(tm) a technology that has served as a growth engine for the Company since its introduction. New manufacturing processes and equipment related to the Uniform Pulse Start product line will come on line next month, which will further improve product performance and cost.
Sabu Krishnan commented, "I am excited and confident that I can help lead our team through these challenging times. The opportunity to help Wayne Hellman continue to accelerate the initiatives that have strengthened our business over the last six months is a thrill. Together, we are realizing our vision of ADLT being a profitable worldwide leader in metal halide products and technology."
Wayne Hellman, Chairman and CEO of ADLT commented, "Krishnan's role as COO will allow me to focus on our exciting new materials opportunities, and bring them to market faster. Our Materials Businesses will be focused on the development and introduction of several exciting advanced materials using our expertise in ultra high purity materials, thin film coatings and light management know-how. DSI and APL are well-established leaders in the supply of specialty materials and thin film coatings for solutions in light generation and management. Historically our materials operations have provided strong sales and earnings growth."
About Advanced Lighting Technologies
Advanced Lighting Technologies, Inc. is an innovation-driven designer, manufacturer and marketer of metal halide lighting products, including materials, system components, systems and equipment. The Company also develops, manufactures, and markets passive optical telecommunications devices, components and equipment based on the optical coating technology of its wholly owned subsidiary, Deposition Sciences, Inc.
Forward-Looking Statements
Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risk and uncertainties, including uncertainties associated with the restructuring process, the ability of the Company to successfully emerge from bankruptcy, the ability of the Company to operate successfully during the reorganization proceeding, and disruptions to the Company's business relationships during the restructuring process. Other risks and uncertainties include the strength of the recovery of the U.S. economy, timely development and market acceptance of new products, including production equipment, the ability to provide adequate incentives to retain and attract key employees, the impact of competitive products and pricing, and other risks detailed from time-to-time in the Company's EDGAR filings with the Securities and Exchange Commission. In particular, see "Risk Factors" in the Company's Form 10-K for the fiscal year ended June 30, 2002. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects" and similar expressions are intended to identify forward-looking statements. The Company's actual results could differ materially from those anticipated in these forward-looking statements.