January 18, 2016 – Lighting manufacturer Osram (Munich, Germany) says it continues to make progress with the “carve-out of its general lighting lamps” business. After the supervisory board of Osram Licht AG approved the carve-out of the unit in June 2015, the name of the new company has now also been decided.
“We have opted for a combination of the terms ‘LED’ and ‘advance’ and will call the newly established company LEDvance,” said Olaf Berlien, CEO of Osram Licht AG.
The product portfolio covers traditional lighting, modern LED lamps and standardized over-the-counter (OTC) luminaires, as well as connected and intelligent lighting solutions for smart homes and buildings.
The schedule for the formal carve-out of LEDvance remains unchanged: the organizational separation of the lamps business is to be completed as of April 1, 2016, while the legal separation is planned for July 1, 2016.