News Article
Osram completes acquisition of Siteco
The purchase of the supplier of professional lighting applications opens up new growth potential for LED applications. Osram has also appointed Klaus-Günter Vennemann as head of the business unit Professional Lighting.
On 1 July 2011, Osram successfully completed the acquisition of Siteco Lighting GmbH based in Traunreut, Germany.
Siteco offers professional lighting applications for commercial and public areas, including municipal infrastructure such as buildings, streets, tunnels, airports or sport stadiums.
"With this acquisition Osram is strengthening its position in the solution business. This applies to both classic energy-saving and LED-based lighting technology," says Wolfgang Dehen, CEO of Osram.
To aid this development, the firm has appointed former CEO of Siteco, Klaus-Günter Vennemann, 57, as head of the business unit Professional Lighting.
Klaus-Günter Vennemann
CEO Business Unit Professional Lighting (PL)
More than two thirds of the global lighting market is already covered by luminaires and lighting systems.
With the acquisition of Siteco, Osram gains broad market access for lighting solutions and a modern range of products in the field of interior and exterior lighting. The acquisition supports the Professional Lighting business unit, which offers components such as lamps, LED and control gear. What’s more, it provides complete luminaires, light management systems and lighting solutions.
In addition to this, Siteco is a strong supplement to the competences of the established Osram joint venture Traxon, which is active in the shop-lighting, architectural, entertainment and hospitality lighting sectors.
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Siteco is responsible for lighting provided at the Munich Allianz Arena, Barajas Airport in Madrid, and the Taipei Tower in Taiwan. Moreover, in the development of new products Osram can benefit from Siteco's extensive experience in collaborating with customers, architects, light designers, and fitters.
Klaus-Günter Vennemann, the new CEO of the business unit Professional Lighting is replacing Claus Regitz, 54, who will be taking on new responsibilities outside of Osram. Vennemann came to Siteco in July 2009 where he took up the position of Chief Executive Officer of the management board. Within 18 months he led the company by regaining momentum and continued to prepare it for the key issue of LED. Prior to this, Vennemann was a member of the management board of LUK for 16 years. LUK is a supplier for the international automotive industry and belongs to the Schaeffler group.
