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Philips and Optogan to cooperate on LED road lighting solutions in Russia

11 April 2012 18.00 BST


(Russia) - Philips has signed a joint venture agreement with Russian LED product manufacturer Optogan that sees the two companies taking a strong foothold in the fast growing LED road lighting market in Russia.

The new company will be 51% owned by Philips and 49% by Optogan, though financial details of the joint venture were not disclosed.
 
The joint venture will combine Philips’ latest LED road lighting solutions and international quality standards with Optogan’s LED knowledge and understanding of local market requirements in this field. Products developed and manufactured by the joint venture will be sold in the Russian Federation and within its customs union with Kazakhstan and Belarus.
 
The Philips-Optogan partnership will focus on developing a local LED industry, supporting the energy efficiency (EE) initiatives by the Russian Government.
 
Road lighting in Russia is an is anticipated to become one of the leading growth segments for LED, with the market expected to double over the next four years to EUR 100 million by 2015.

This growth is mainly driven by government energy efficiency programs for modernization of road lighting. It is expected that due to this also the share of LED will reach 50% as early as 2015.

www.optogan.com
www.lighting.philips.com

 

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