LED lighting manufacturer LALED merges with Magnolia Companies
August 16, 2013
Plans to Build New Production Facility and Create Over 150 Jobs
Lafayette, LA - LALED, a Louisiana based manufacturer of LED lighting, announced today its merger with the The Magnolia Companies of Louisiana, positioning LALED for rapid growth in the market. LALED has been planning to build an LED manufacturing facility in the Acadiana area and the now fully funded company will move forward with its real estate strategy over the course of the next six months.
"We have been steadily growing over the course of the past few years and finally reached a point that we felt a partner would allow us to reach the level we need to become a major supplier in this country," said Robert Owens, CEO of LALED. "This merger will now allow for massive growth and for us to continue to invest in the Louisiana economy through a new production facility."
LALED's current manufacturing is in Taiwan and China, with finish assembly in Lafayette. LALED's new manufacturing facility will allow for up to 80% of manufacturing to be done in the Lafayette area and create over 150 high skilled jobs over the next three years.
"We are a Louisiana born company and now have the means to be able to continue to build our product in a state we believe in. Today's announcement is not only good news for LALED, but for Acadiana and Louisiana," said Owens.
LALED will immediately begin building and storing over a million dollars of inventory for sale and quick delivery throughout the world.
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