Norlux emerges from Uniroyal's shadow
The company was acquired by the two Norlux founders, John DiNardi and Doug Hamilton, with external backing. "We were able to get private funding from two strategic partners in the electronics industry," said DiNardi, Norlux s director of operations.
The deal was approved by the US bankruptcy court in on August 14, 2003. Proceeds from the sale went to the debtor-in-possession lender CIT Group/Business Credit.
The deal was a full asset purchase acquisition, valued at $425,000. "We assumed some of the liabilities and contracts of Norlux, and all of the assets," said Hamilton, the company s director of technology.
Norlux specializes in chip-on-board technology, with the capability to mount LED die on a wide variety of different substrates. The company developed a Hex platform, which allows high-density mounting of LEDs on a thermally conductive substrate, and also manufactures a number of multi-wavelength arrays.
"Our target markets are transportation, industrial, government and military," says DiNardi. "As well as manufacturing LED arrays, we are also able to integrate electronic controls, optics, and unique thermal management systems based around different substrate technologies."
Norlux has a 12,000 sq. ft facility, including a class 10,000 clean room, in Carol Stream, Illinois, for prototyping and production. "Due to high demand, we continue to add capacity to our production line," says DiNardi. "Our current capacity provides about 0.5 million die placements per month."
"We retained 100% of the employees in the new Norlux," says Hamilton. "We are very excited about Norlux moving forward."
