Lighting manufacturer Osram GmbH has completed the acquisition of Siteco Lighting GmbH based in Traunreut, Germany.
The Osram deal to buy Siteco was announced in late February 2011, and became effective on 1 July.
Klaus-Günter Vennemann, former Siteco CEO, has been appointed head of the Osram's Professional Lighting business unit.
Osram says that the purchase opens up new growth potential for LED applications.
With economical effect as of 1 July 2011, OSRAM successfully completed the acquisition of Siteco Lighting GmbH based in Traunreut/Germany.
"With this acquisition Osram is strengthening its position in the solution business. This applies to both classic energy-saving and LED-based lighting technology, " says Wolfgang Dehen, CEO of Osram. More than two thirds of the global lighting market is already covered by luminaires and lighting systems.
Also with effect from 01 July, 2011 Klaus-Günter Vennemann (57) has been appointed head of the business unit Professional Lighting.
With the acquisition of Siteco, Osram gains broad market access for lighting solutions and a modern range of products in the field of interior and exterior lighting. The acquisition supports the Professional Lighting business unit, which offers components such as lamps, LED and control gear. Furthermore it provides complete luminaires, light management systems and lighting solutions.
In addition to this, Siteco is a strong supplement to the competences of the established Osram joint venture Traxon, which is active in the shop-lighting, architectural, entertainment and hospitality lighting sectors.
Siteco offers professional lighting applications for commercial and public areas, including municipal infrastructure such as buildings, streets, tunnels, airports or sport stadiums. Siteco is responsible, for example, for lighting provided at the Munich Allianz Arena, Barajas Airport in Madrid, and the Taipeh Tower in Taiwan.
Moreover, in the development of new products Osram can benefit from Siteco's extensive experience in collaborating with customers, architects, light designers, and fitters.
Klaus-Günter Vennemann has been appointed CEO of the business unit Professional Lighting. He is replacing Claus Regitz (54), who will be taking on new responsibilities outside of Osram.
Vennemann came to Siteco in July 2009 where he took up the position of Chief Executive Officer of the management board. Within 18 months he led the company by regaining momentum and continued to prepare it for the key issue of LED. Prior to this, Vennemann was a member of the management board of LUK for 16 years. LUK is a supplier for the international automotive industry and belongs to the Schaeffler group.
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