The acquisition of PHILPS lighting Chinese city landscape lighting enterprise Lei Ming Technology

The global leader of PHILPS lighting lighting (Amsterdam European stock exchange code: LIGHT) announced today that it has been and Shenzhen Leiming Science & Technology Co Ltd (Lei Ming Technology) signed a purchase agreement, the purchase of the China city landscape and building facade lighting and control system manufacturers.

Through this acquisition, PHILPS lighting's high-end facade lighting products and systems to expand the development of the category, to further strengthen the leadership position in the market of city landscape lighting Chinese huge and rapid growth of the.

Left: PHILPS professional lighting Lighting Department of Greater China and growing market senior vice president Wei Qianzhe (Chandra Vaidyanathan),

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

The general manager of Shenzhen science and Technology Co., Ltd. Lei Ming, Liu Xiaoguang,

Deputy general manager of Shenzhen science and Technology Co., Ltd. Lei Ming, Peng Yong

Founded in 2004, Lei Ming technology is headquartered in Shenzhen, 2017 sales of about 32 million euros. The extensive and competitive product portfolio and PHILPS lighting business complementary. Lei Ming technology is good at rapid implementation of city lighting projects and customized according to customer needs. The company will continue to Chinese Lei Ming brand operation.

This acquisition is in line with our global growth strategy through the twin engines of organic growth and strategic acquisitions, "PHILPS lighting global professional lighting business group president Harsh Chitale said," the city landscape lighting is a very attractive growth market. The acquisition of Shenzhen Lei Ming will strengthen our leadership in this market."

"Lei Ming technology expertise in city landscape lighting, in many city China have laid a solid foundation of the business. Combining the two companies will bring products, systems and services for a more complete Chinese market, can create a beautiful landscape of public space for the China city more and more buildings, bridges and roads." Wang Yun, President of PHILPS Greater China said lighting.

"We are to join the global lighting industry the most outstanding enterprise is full of expectations. China city landscape lighting market is developing rapidly, and we will be together in the Chinese PHILPS lighting market to win more market share." Lei Ming Technology General Manager Liu Xiaoguang said.

PHILPS lighting into the China for nearly a century, as early as 1920, PHILPS lighting products have entered into the Chinese. The company has established extensive sales and distribution network, service Chinese professional lighting market and consumption. PHILPS lighting has 36 sales offices in Chinese, more than 300 stylish lighting Museum and tens of thousands of retail outlets. PHILPS lighting currently has 5 production bases and 1 of the world's second largest R & D center in Chinese.

The transaction in the declaration to the China regulators, is expected to be completed in the third quarter of 2018, and included in the performance in 2019. Financial details were not disclosed.

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