Closeout of Europe's Lighting Brands Continues - Osram Initiates Sale of Luminaire Business
Seven years after buying Siteco and after forming the Osram Lighting Solutions business unit, Osram's management board has decided to divest its luminaires business. Because of numerous measures, the earnings position of the Lighting Solutions business unit has stabilized significantly. That allows Osram to initiate an organized sales process of the LS business unit.
"The sales of the LS business will result in a more strategic focus with regards to applications with high growth potential,“ said Olaf Berlien, CEO of Osram Licht AG. Talks will be held with interested parties for the luminaires business. The management board will provide an update on the progress of strategic plans for the company at the Capital Markets Day in November.
As part of its strategic realignment, Osram is refining its positioning with an increased focus on the growth markets in high-tech fields. The financial figures of the Lighting Solutions (LS) business unit, combined with the contribution of the Digital Systems business unit, are captured within the Lighting Solutions & Systems (LSS) reporting segment. The largest LS location is Traunreut, Germany, where luminaires e.g. for industrial and commercial sites and street and stadium lighting are produced.
About Osram:
Osram, based in Munich, is a leading global high-tech company with a history dating back more than 110 years. Primarily focused on semiconductor-based technologies, our products are used in highly diverse applications ranging from virtual reality to autonomous driving and from smart phones to smart and connected lighting solutions in buildings and cities. Osram uses the endless possibilities of light to improve the quality of life for individuals and communities. Osram’s innovations enable people all over the world not only to see better, but also to communicate, travel, work and live better. Osram has approximately 26,400 employees worldwide as of end of fiscal 2017 (September 30) and generated revenue of more than €4.1 billion. The company is listed on the stock exchanges in Frankfurt and Munich (ISIN: DE000LED4000; WKN: LED400; trading symbol: OSR). Additional information can be found at www.osram.com
