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Rutter Purchases EJE Trans-Lite and Battery Tech
Rutter Technologies of St. John’s, Newfoundland, Canada, has signed letters
of intent to purchase EJE Trans-Lite Inc. and
Battery Tech Inc. in exchange for $851,000 of
Rutter common stock.
EJE and Battery Tech had over $1 million in combined
revenues for the seven months ended Aug. 31 and
were profitable, Rutter said.
EJE Trans-Lite Inc., also of St. John’s,
was founded in 1988 to research and develop portable
helicopter landing systems and marine safety lights.
It now supplies a diversified line of safety lights
for specialized applications. Battery Tech Inc.
of City of Industry, California, supplies custom
configured lithium battery assemblies solely to
EJE Trans-Lite for use in most of its products.
Rutter Technologies Inc. headed by Donald Clarke,
chairman and CEO, develops, markets, engineers
and manufactures technologies to improve the efficiency
and safety of maritime operations. In the year
ended August 31, 2003, its revenues rose to $19.8
million from $2.9 million a year earlier.
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