Osram enters joint venture with LED system and solution specialist Traxon Technologies
"This new joint venture will make Osram one of the leading providers of LED lighting solutions. The benefits of this partnership are very clear: We intend to create an integrated offering across the entire LED spectrum which will be marketed through the joint worldwide partner- and sales network," explains Osram CEO Martin Goetzeler. "The joint venture will also act as a powerful driving force for the continuing innovative development of Osram's components business."
"With clear focus on the customers needs this Joint Venture will be the choice for LED projects, systems and solutions. We will continue to build on our partnerships around the world to make it happen," says Nicolai Wiest, CEO of Traxon.
The joint venture will bring the combined know-how of Osram and the both Traxon Technologies companies Traxon and e:cue Lighting Controls to offer customers integrated LED lighting solutions. Traxon not only offers a leading technology portfolio, it also has outstanding contacts in worldwide project business to architects and lighting designers. The range of light management and control software offered by e:cue plus Traxon's focus on LED system and solution business are an important addition to Osram's product portfolio.
Operating under the new name "Traxon Technologies - An Osram Company" the joint venture will continue to operate from its head office in Hong Kong while Traxon's research and development activities will remain in Paderborn, Germany, and Hong Kong. The global market volume for professional LED systems and solutions is around 700 million euros and, with forecast annual growth of around 20-30 percent, is a major growth driver in the lighting industry.
About OSRAM GmbH
OSRAM is part of the Industry sector of Siemens and one of the two leading lighting manufacturers in the world. Sales for the OSRAM group worldwide in the year ending September 30, 2008 totaled 4.6 billion euros, 88 percent of which came from outside Germany. OSRAM is a high-tech company in the lighting industry. Over 60 percent of sales come from energy-efficient products. This global player employs more than 43,500 people worldwide, supplies customers in some 150 countries and has 46 production facilities in 17 countries.