News Article
Philips to merge lighting businesses
Stand-alone company will combine Lumileds and automotive lighting
Philips has announced plans to combine its Lumileds (LED components) and automotive lighting businesses into a stand-alone company within the Philips Group. The process is expected to be completed in the first half of 2015.
"Philips' strategy in Lighting is to intensify its focus on connected LED lighting systems and services, LED luminaires, and LED lamps for the professional and consumer markets," said Frans van Houten, CEO of Philips.
"By combining Philips Automotive lighting and Lumileds, the Automotive lighting customers will continue to benefit from a fully integrated end-to-end R&D and supply chain, enabling the adoption of LED technology in automotive applications," said Philips Lighting CEO Eric Rondolat.
Sales of the combined businesses were approximately EUR 1.4 billion in 2013. The chief executive officer of the new company will be Pierre-Yves Lesaicherre, the current chief executive officer of Lumileds.
Costs associated with setting up the combined business are expected to amount to EUR 30 million in the second half of 2014.
"Philips' strategy in Lighting is to intensify its focus on connected LED lighting systems and services, LED luminaires, and LED lamps for the professional and consumer markets," said Frans van Houten, CEO of Philips.
"By combining Philips Automotive lighting and Lumileds, the Automotive lighting customers will continue to benefit from a fully integrated end-to-end R&D and supply chain, enabling the adoption of LED technology in automotive applications," said Philips Lighting CEO Eric Rondolat.
Sales of the combined businesses were approximately EUR 1.4 billion in 2013. The chief executive officer of the new company will be Pierre-Yves Lesaicherre, the current chief executive officer of Lumileds.
Costs associated with setting up the combined business are expected to amount to EUR 30 million in the second half of 2014.
