Philips to bolster street lighting business
Dubai, July 14, 2010
Royal Philips Electronics will strengthen its outdoor lighting portfolio by acquiring the street lighting controls activities of Amplex, a Denmark-based provider of energy-efficient solutions.
Upon closing of this transaction during the third quarter of 2010, which is subject to certain contractual and other conditions, the acquired business will become part of the lighting electronics business within the Philips lighting sector.
Financial details of this agreement were not disclosed.
“This acquisition further strengthens our offering of integral energy management solutions to municipalities, road authorities and utility companies,” said Hans de Jong, head of Philips Lighting Electronics.
“This enables us to provide these customers with a system that delivers up to one third street light energy savings to municipalities, who typically spend 30 to 40 per cent of their total energy budget on street lighting, thus significantly driving down their carbon footprint and electricity bill.”
Amplex delivers lighting controls systems used to manage millions of streetlights on a daily basis across many different countries around the world, a statement said. – TradeArabia News Service