spin-off

News aus der Elektroindustrie

The supervisory board of OSRAM Licht AG voted in favor of the outsourcing of the division in June 2015, and now the name of the new firm has been fixed.

The supervisory board of OSRAM Licht AG voted in favor of the outsourcing of the division in June 2015, and now the name of the new firm has been fixed.

For the newly-formed company a combination of the terms LED and ADVANCE has been decided on, so that the new firm is now called LEDVANCE. “The name reflects both the LED trend in the lighting market and the chances resulting from it,” stated Olaf Berlien, the chairman of Osram Licht AG.

LEDVANCE will be led by Jes Munk Hansen (47), who has already been at the helm of the lamps business for one year. Oliver Neubrand (45) will be responsible for finance, Erol Kirilmaz (43) for sales and marketing, Peter Mannhart (56) for operations, and Ms. Bettina Kahr-Geleng (45) for human resources.

The schedule for the formal carve-out of LEDVANCE remains unchanged: The organizational separation of the lamps business is to be completed as of 1. April 2016, while the legal separation is planned for 1. July 2016.

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According to information from the dpa, Chinese investors have apparently expressed interest in parts of the business of the lighting technology group Osram.

According to information from the dpa, Chinese investors have apparently expressed interest in parts of the business of the lighting technology group Osram.

The company Feilo Acoustics has informed its shareholders of its interest in the acquisition in a letter, referring to the plans of the traditional group from Munich. Osram has announced its plans to outsource its lamps business by the coming spring, so that the Chinese company is considering the purchase of parts of the traditional lighting business and the LED division.

An Osram spokesman refused to comment any further on the matter, saying that no purchase process has been initiated for the lamp business. Should the interest actually refer to the Osram division which is to be outsourced, then this shows that there is a certain interest.

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After the supervisory board issued a preliminary audit engagement in April to make its lamp business independent, the go-ahead has now been given following talks between employee representatives and  the management.

After the supervisory board issued a preliminary audit engagement in April to make its lamp business independent, the go-ahead has now been given following talks between employee representatives and  the management.

With the spin-off Osram wants to take account of the various dynamics and requirements in the lighting market. It says the lamp market is a mass market in which high quality and cost efficiency consistently provide the competitive edge. This makes it fundamentally different to the technology markets, which are characterized by innovations, customized solutions and sustained growth.

On these technology markets Osram plans in future to focus on optical semiconductors, automobile and special lighting along with luminaires, systems and solutions.

The supervisory board’s decision is now laying the cornerstone for Osram’s future strategic orientation towards growth, innovation and technological leadership, according to board chairman Olaf Berlien.

At present Osram still generates almost 40% of its turnover with the conventional lamps business. But as an independent unit the private customer business can act more freely on the market and more easily realize strategic options, such as partnerships, for example.

Jes Munk Hansen, until now CEO of the American region, will run the illuminents business in future. How the business is to be made independent (e.g. sale or flotation) has not yet been decided.

After its spin-off from Siemens Osram has been an independent business since 2013. Since then there has been restructuring and savings on a grand scale. After the loss of over 8,000 jobs Osram still numbers about 34,000 employees worldwide.
 

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As reported by the German press agency, the supervisory board of Osram lighting group has not reached a final decision on the spinoff of its lighting business.

As reported by the German press agency, the supervisory board of Osram lighting group has not reached a final decision on the spinoff of its lighting business.

It is stated that first the effects on the employees have to be examined. The latest plans had thrown up a central question with employee representatives: What would a spinoff of the lighting business mean for the employees? The IG Metall union had been appalled by the spinoff plans.

Previously Osram had announced that the business with lamps – including halogen, energy-saving and LED lamps - is to be spun off.

A decision could be made in about four weeks at an extraordinary meeting of the supervisory body, although an exact date for this was not announced at first. However, it is regarded as unlikely that the plans could still be overturned. Also it remains to be seen whether the business is to be sold or floated on the stock market after the spinoff.

Osram’s rival Philips has taken sweeping measures, too, spinning off its entire lighting business and selling a part of the division in March.

For years Osram has been feeling the effects of the rapid change in the lighting market – and the cheaper competition, above all from Asia, which can produce at lower prices especially for the mass market for lamps.

 

 

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In an ad-hoc communication to the stock exchange Osram has declared its intention to hive off the lamps business of its general lighting segment.

In an ad-hoc communication to the stock exchange Osram has declared its intention to hive off the lamps business of its general lighting segment.

This includes conventional as well as LED-based lamps of today’s CLB and LLS business units.

This measure is to be laid before the supervisory board for a decision at its next ordinary meeting on 28th April 2015.

In the 2013/14 business year a turnover of about EUR 2bn was made worldwide in this segment.

Hiving it off is intended to create the basis for further development of the business, possibly also with the involvement of partners.

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