Under the terms of the agreement, Ciil's manufacturing and operations will be relocated to Peerless-AV's headquarters and 320,000-square-foot manufacturing facility in Aurora, Illinois, a suburb of Chicago. Ciil products will now be produced in a dedicated 10,000-square-foot area within the Peerless-AV plant, including a 3,000-square-foot clean room for assembly and testing.
All Ciil TVs and displays will continue to be manufactured in the USA, all Ciil personnel and management will be retained, and Ciil products will continue to be sold under the Ciil trademark and the UltraView and Xtreme brand names.
The transaction closed on February 1, 2013. Financial terms were not disclosed. More information on Ciil's products can be found at www.ciiltech.com
About Peerless-AVPeerless-AV, a Peerless Industries, Inc. company, is a leading designer, manufacturer and distributor of Made-in-the- USA audio visual mounting, accessory and digital content delivery solutions for commercial and residential applications. The company's innovative AV products span off-the-shelf, commercial and custom flat panel, projector and tablet mounts as well as cables, AV carts and stands, medical carts and stands, AV racks, AV furniture and a wide range of other accessories. The Peerless Technology Division specializes in wireless, kiosk, touch, digital audio and connectivity technologies that simplify today's complex digital equipment installations. Peerless-AV manufactures over 3,600 products that serve original equipment manufacturers, commercial integrators and consumer retailers in 22 vertical markets through direct sales representatives and authorized distribution. For more information, visit www.peerless-av.com. SOURCE Peerless-AV