Hayward Pool Products, based in Elizabeth, NJ, and Super Vision International, of Orlando, FL, have announced an agreement allowing Super Vision to sell its fiber and optic and LED lighting products directly in the pool and spa marketplace. The agreement will have a two-month transition period and an effective date for direct sales of Super Vision products starting October 1, 2001.
Super Vision is owned in part by Cooper Industries and Hayward Industries, Inc, manufacturers of lighting and swimming pool products respectively.
Bruce Fisher, vice president of sales for Hayward, stated, “Sometimes it is better to recognize that certain product categories are best left with the specialist. We have decided to turn over the existing sales base to our supplier, Super Vision. We are still a large investor in Super Vision so their success remains ultimately ours.”
Brett Kingstone, president/CEO of Super Vision International, Inc. added, “We are thrilled that both companies have come to an arrangement that will allow each other to focus on their strengths. Hayward’s leadership, Oscar Davis and Bruce Fisher, will continue to guide us in our renewed efforts to grow out market share of fiber optic and LED lighting products through our new direct distribution channels.”
Paul Koren, director of pool sales of Super Vision International said, “This new relationship will allow us to more closely serve our customers as well as offer new services such as the bundling of product and installation.”
As of close of business on Friday, two days after this announcement was made public, Super Vision International stock, on the NASDAQ exchange, closed at 6.75, in the middle of its 52-week range, which spans 5.50 to 7.75.