PHILPS lighting acquisition of Chinese urban landscape lighting enterprise Lei Ming Technology

Global lighting leader PHILPS lighting (Amsterdam European stock exchange code: LIGHT) announced today that it has signed a purchase agreement with Shenzhen Ling Technology Co., Ltd., which will buy the Chinese city landscape and building facade lighting and control system manufacturers.

Through this acquisition, PHILPS lighting will expand the high-end building facade lighting products and systems to the middle end of the high speed development, and further strengthen the leadership position of the huge and fast growing urban landscape lighting market in China.

Left: Wei Qianzhe (Chandra Vaidyanathan), the senior vice president of the big China area and the growing market of the lighting professional department of PHILPS.

PHILPS lighting global senior vice president, President of Greater China, Wang Yun,

General manager of Shenzhen Lei Ming Technology Co., Ltd., Liu Xiaoguang,

Peng Yong, deputy general manager of Shenzhen Lei Ming Technology Co., Ltd.

In 2004, the headquarter of Lei Ming technology was located in Shenzhen, with sales of about 32 million euros in 2017. Its wide and competitive portfolio will complement the PHILPS lighting business. Ling technology is good at the rapid implementation of urban lighting projects and customizing products according to customer needs. The company will continue to operate with the Lei Ming brand in China.

"This acquisition is in line with our dual engine growth strategy through its own organic growth and strategic acquisition," said Harsh Chitale, President of the PHILPS lighting global professional lighting group, "urban landscape lighting is a very attractive growth market. The acquisition of Shenzhen Lei Ming will enhance our leadership in this market.

"Lei Ming Technology specializes in urban landscape lighting, and has laid a solid foundation for many cities in China." The combination of the two companies will bring more complete products, systems and services to the Chinese market, creating a beautiful public night space for buildings, bridges and streets in more and more cities in China. " Wang Yun, President of PHILPS lighting in Greater China, said.

"We are looking forward to joining the best enterprises in the field of global lighting. China's urban landscape lighting market is developing rapidly, and we will win a larger market share in the Chinese market with PHILPS lighting. Liu Xiaoguang, general manager of Lei Ming technology, said.

PHILPS lighting has entered China for nearly a century. As early as 1920, PHILPS lighting products entered China. The company has established a wide range of sales and channel networks to serve China's professional and consumer lighting market. PHILPS has 36 sales offices in China, more than 300 fashion lighting houses and thousands of retail outlets in China. PHILPS lighting currently has 5 production bases in China and 1 global second R & D centers in China.

The transaction is expected to be completed in the third quarter of 2018 after reporting to China's regulatory authorities, and its performance in 2019. The financial details are not disclosed.

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