Osram drives transformation with sale of North American service business, Sylvania Lighting Solutions
01.16.2019 | Business & Financial Press
- WESCO International, Inc. (NYSE:WCC) subsidiary to acquire business operations of Osram's North American service unit, Sylvania Lighting Solutions
- North American-based distributor and supply chain services provider WESCO International will acquire approximately 220 employees based in US and Canada
- Osram continues to sharpen its profile as photonics champion
With the sale of its North American services business, Sylvania Lighting Solutions (SLS), Osram is making further progress toward becoming a photonics champion. In WESCO International, Osram has found the best new owner for the services business with approximately 220 employees and annual sales of more than 100 million US dollars. The transaction is expected to close in the first calendar quarter of 2019 and the purchase price is in the double-digit million euro range.
Osram is increasingly focusing on intelligent technologies in the field of visible and invisible light for the market fields of visualization, sensor technology and treatment. Osram’s Management Board decided in May 2018 to initiate the divestiture of the SLS business. The financial effects of the sale on Osram’s balance sheet are minimal.
OSRAM, based in Munich, is a leading global high-tech company with a history dating back more than 110 years. Primarily focused on semiconductor-based technologies, our products are used in highly diverse applications ranging from virtual reality to autonomous driving and from smartphones to networked, intelligent lighting solutions in buildings and cities. OSRAM utilizes the infinite possibilities of light to improve the quality of life for individuals and communities. OSRAM’s innovations will enable people all over the world not only to see better, but also to communicate, travel, work, and live better. As of the end of fiscal year 2018 (September 30), OSRAM had approximately 27,400 employees worldwide. It generated revenue of more than €4.1 billion in fiscal year 2018. The company is listed on the stock exchanges in Frankfurt and Munich (ISIN: DE000LED4000; WKN: LED400; trading symbol: OSR). Additional information can be found at www.osram.com.
About OSRAM SYLVANIA
OSRAM SYLVANIA is part of OSRAM Americas, a group of OSRAM companies located in North and South America. As a leader in lighting solutions and services specializing in innovative design and energy-saving technology, the company sells products under the brand names OSRAM, Traxon, ENCELIUM and SYLVANIA. The portfolio ranges from high-tech applications based on semiconductor technology, such as infrared or laser lighting, to smart and connected lighting solutions in buildings and cities. The OSRAM SYLVANIA and OSRAM Americas regional headquarters is located in Wilmington, Massachusetts. For more information, visit www.osram.us or follow us on Facebook and Twitter.
OSRAM is a registered trademark of OSRAM GmbH.
ENCELIUM is a registered trademark of OSRAM SYLVANIA Inc.
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