SOLON, Ohio, May 1, 2003 (PRIMEZONE) -- Advanced Lighting Technologies, Inc. (OTCBB:ADLTQ) announced today that Sabu Krishnan, the Company's Chief Operating Officer, has been appointed to ADLT's Board of Directors. 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.
Previous to his current position, Mr. Krishnan was Vice President of International Operations for Lighting Resources International, a division of ADLT, and was involved in various equipment and Joint Venture deals. Prior to joining ADLT, Mr. Krishnan worked with K&M International to set up miniature lamp operations in China, set up a flashlight manufacturing operation for Eveready in China and established 45 machine shops in India for supplying sub-assemblies to General Electric Lighting Division.
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. Advanced Lighting Technologies, Inc. and certain of its United States subsidiaries, including APL Engineered Materials, Inc., are currently operating as debtors-in-possession while the companies reorganize under Chapter 11 of the United States Bankruptcy Code. 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., which is not operating under protection of the Bankruptcy Code.
Forward Looking Statements
Except for historical information contained herein, the matters discussed in this news release are forward-looking statements that involve risks 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.