Keeping the Lights On

SLI Inc. (Canton, Mass.), designer, manufacturer and seller of lighting systems, lamps and fixtures, announced that its senior bank lenders have agreed to grant the company an additional waiver on its current defaults.

Chairman and ceo Frank Ward said the waiver was for 16 days — until June 30, 2002 — with the company continuing to negotiate a long-term amendment with its senior lenders.

SLI is one of the largest lighting companies in the world, with products including lamps, fixtures, ballasts and miniature lighting assemblies. Its brand names include Concord architectural and display lighting; Claude consumer and industrial/commercial lamps and fixtures; Lumiance display lighting fixtures; Linolite residential and commercial task lighting fixtures; and Le Dauphin high-fashion table fixtures. Ballasts are sold under the Power Lighting Products brand name, and miniature lighting assemblies are sold under the Chicago Miniature Lamp and SLI Miniature Lighting brand names.

Its flagship brand is Sylvania, except in North America where Osram GmbH owns the trade name. Its range of lamp types includes incandescent, fluorescent, HID, halogen, miniature incandescent, neon and LED. About 70 percent of the company's sales come from outside the U.S.