OSRAM To Split Lighting Business
In a move that seems to echo the strategy of lighting giant Philips, Osram announced last night that it intends to transfer the general lighting lamps business into an independent legal structure.
According to the announcement, the decision was based on discussions held on April 15, 2015 by the Managing Board of OSRAM Licht AG. The comapny intends to transfer the general lighting lamps business into an independent structure. This business includes the traditional as well as the LED-based lamps of the current business units CLB and LLS. The measure is to be submitted to the Supervisory Board at its next regular meeting on April 28, 2015. In fiscal 2013/14 this business generated worldwide sales of about € 2 billion. The independent legal structure is to provide the basis for the further development of the business, while also considering partnerships. More to follow.