LED lighting manufacturer, Lighting Science Group, has announced the realignment of its manufacturing operations. Capitalizing on the increasing market demand for its LED lighting solutions, the company has planned strategic restructuring to better position itself to sustain growth and profitability.
To respond to the growing customer demand, Lighting Science Group has expanded its relationship with Jabil Circuit, a manufacturer of world-class electronic products. Both companies will join hands to help Lighting Science Group transition its Monterrey manufacturing production to Jabil. This relationship will enable Lighting Science Group to scale greater heights in global production, build a stronger supply chain and deliver its new products faster to the market. The transition is expected to guarantee uninterrupted delivery of Lighting Science Group products to the LED market. After the completion of the transition, production at the Monterrey facility will be closed. Lighting Science Group is also in the process of increasing investments at its Florida manufacturing facility in Satellite Beach. The focus will be primarily on the large-scale production of custom lighting products.
According to a report from McKinsey & Company, by 2020, the market for LED lighting is expected to comprise about 70% of the market for general lighting. Lighting Science Group has carved a niche for itself as a premier innovator of LED lighting solutions. The company is also the largest manufacturer and distributor in North America. Its core customers are from the residential, industrial and construction fields. Lighting Science Group is poised to derive benefits from the predicted market expansion.
To further enhance its strategic market position, the Lighting Science Group is engaged in channelizing capital and assets, deriving from them support for its innovative technological developments, product development, marketing, sales and distribution.
