Philips has announced that it has entered into an agreement to acquire Indal,the Spanish luminaires company.
According to the company,the acquisition will fuel Philips'growth in professional lighting solutions and create a platform to further strengthen Philips'market position in Europe.
Once the transaction has been finalised,Indal will become a part of the professional luminaires business of Philips Lighting.Financial details of the acquisition were not disclosed.
"Indal's capabilities in delivering lighting solutions make it a natural fit with Philips,further strengthening our ability to offer our customers integrated and high-value options for professional lighting,"said Marc de Jong,general manager professional luminaires at Philips Lighting.
Founded in 1950,Indal employs in the region of 1,000 people and achieved sales of€156 million in 2010.The company designs,develops and manufactures lighting solutions for professional markets including road,industrial and floodlighting applications.The company also has a strong competitive position in LED technology solutions.
The rest is here:Philips set to acquire Indal
