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1 min read lighting

OSRAM acquisition aims at urban lighting market

OSRAM, Siemens’ lighting division, is acquiring Germany-based Siteco Lighting GmbH from Barclays Private Equity for an undisclosed purchase price.

The acquisition is aimed at extending OSRAM’s reach in the urban infrastructures market for lighting systems.

“As a leading manufacturer of lighting components, we are now also further expanding our competencies in the solution business,” said Martin Goetzeler, CEO of OSRAM. “This applies to conventional energy-saving lighting technology and in particular to LED-based luminaires and systems, where we are expecting the greatest growth.”

Siteco has a worldwide workforce of 1,250 and revenues of around €220 million as of fiscal year 2010. The company supplies luminaires and lighting systems for public and commercial buildings, streets, tunnels, airports and sports stadiums.

Read more here …

Published by:

Dan Ilett

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