Osram: kicks off sale of luminaire unit
(CercleFinance.com) - German lighting group Osram on Tuesday kicked off the process to sell its luminaires business ("Lighting Solutions") in a bid to focus on growing high-tech markets.
"Thanks to numerous measures, the earnings position of the Lighting Solutions business unit has stabilized significantly, therefore allowing us to initiate an organized sales process," the company said.
Talks will be held with interested parties, Osram said, adding that it will provide a strategic update at its Capital Markets Day in November.
The largest luminaires plant is based in Traunreut, Germany, where Osram makes lighting systems for industrial and commercial sites, as well as streets and stadiums.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
"Thanks to numerous measures, the earnings position of the Lighting Solutions business unit has stabilized significantly, therefore allowing us to initiate an organized sales process," the company said.
Talks will be held with interested parties, Osram said, adding that it will provide a strategic update at its Capital Markets Day in November.
The largest luminaires plant is based in Traunreut, Germany, where Osram makes lighting systems for industrial and commercial sites, as well as streets and stadiums.
Copyright (c) 2018 CercleFinance.com. All rights reserved.