RVIA Economic Impact Study

The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.

Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .

Carmanah Technologies Will Divest Power Division

Fri Oct 14, 2016

147645983157421.jpgVICTORIA, BRITISH COLUMBIA - Carmanah Technologies Corporation has announced its intention to divest its Power Division businesses.

The Company's Power Division is comprised of two separate businesses:

Off-Grid Power - The company's off-grid power business, which operates under the trade name Go Power! provides solar power solutions for the recreational vehicle and industrial work truck markets through OEM and aftermarket channels. It is headquartered in Victoria, Canada.

On-Grid Power - The company's on-grid power business designs and builds ground mount and rooftop solar power plants for developers under the Carmanah Solar EPC Services trade name. It is headquartered in Toronto, Canada.

The company has retained Canaccord Genuity Corp. to advise on the divestiture of Go Power! Separately, Alexander Capital Group Inc. has been retained to advise on the divestiture of Carmanah Solar EPC.

"These divestitures will enable us to focus on our vision to become the global leader in signals and solar LED illumination for infrastructure," CEO John Simmons says. "The proceeds of the divestitures will allow us to accelerate organic growth initiatives, make more substantive investments in innovation and support our continuing effort to acquire leading contenders in the signals space."

Carmanah's Power Division represented about 35 percent of Carmanah's revenue in the nine months ended Sept. 30. In the third quarter, the company will be accounting for the division as a discontinued operation. As such Carmanah's preliminary third quarter results, which are to be released by separate news release, also will exclude this segment.

At this point, there can be no assurance that Carmanah will be successful in negotiating divestiture transactions for either or both of these businesses on acceptable terms. Carmanah does not expect to provide further updates on the divestiture process until such time as binding agreements relating to one or both of these divestitures are executed and delivered, according to a press release.