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VOLT Lighting gets a new West Coast DC

BY HBSDEALER Staff

Tampa, Florida-based VOLT Lighting, a direct-to-consumer e-commerce lighting manufacturer, is making moves on the West Coast via the opening of a new distribution center in Las Vegas.

The new facility, which is fully stocked and staffed, will make 1- to 3-day ground shipping possible for the company’s West Coast customers.

"Our company is committed to the best-possible customer service – that includes fast fulfillment and shipping" said Richard Ferraro, director of operations. "Filling orders quickly has always been a priority, so we make sure that products are in stock and that orders ship the same day as received."

The new distribution center will house the entire product line, which includes solid brass LED landscape lighting fixtures, transformers, wire and other landscape lighting system components.

With distribution centers now on both coasts, customers will have the option to elect next-day shipping, and most shipments can be delivered within 48 hours.

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China Ceramics accused of violating Securities Exchange Act

BY HBSDEALER Staff

An investor of China Ceramics Co, Ltd. has filed a federal securities fraud class action complaint against the company, citing misleading statements that allegedly violated the Securities Exchange Act of 1934, according to Robbins Arroyo LLP.

The complaint, filed in the U.S. District Court for the Southern District of New York, maintain that China Ceramics misled investors between March 30, 2012 and May 1, 2014.

The NASDAQ Stock Market halted trading for China Ceramics on May 1, requesting additional information. The company then announced that its financial statements for the year ended Dec. 31, 2013 were incomplete. It also revealed that its principal registered public accountant, Grant Thornton, was fired on April 30. A new accounting firm had been employed to audit its financial statements for 2013, 2012 and 2011.

According to Robbins Arroyo, China Ceramics also neglected to disclose the risk associated with substantial write-downs of company assets, which culminated in an estimated $7.5 million asset write-down for the fourth quarter of 2013.

At the moment, trading on the stock market has yet to resume for the company.

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GE joins forces with MakerBot and TechShop

BY HBSDEALER Staff

Following up on its recent partnership with Local Motors, GE is teaming up with MakerBot and TechShop.

“GE continues to foster collaborative relationships to drive innovation through cutting-edge manufacturing models and partnerships that are redefining how ground-breaking products are made,” said Kevin Nolan, VP technology for GE Appliances.

In this newest installment of product innovations, GE will work on a new generation of home appliances through FirstBuild, an online co-creation and micromanufacturing community.

Among its first projects? A microkitchen with big style in a small format, as well as an indoor grill.

The FirstBuild community will have a hand in selecting the winning designs, which will then be brought to life at the FirstBuild microfactory in Louisville, Kentucky. Certain products that generate enough demand will have the chance to scale up to mass production.

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