Leadray Energy, a Taiwan-based maker of LED projection lamps and street lamps, has focused its 2012 operations on participating in government open bids to procure 330,000 LED street lamps to be installed around Taiwan, according to the company.
The open bids will begin in November 2012 and installation of 250,000 street lamps is scheduled for completion in the second quarter of 2013, Leadray indicated.
Having won 50% of government-subsidized projects to procure LED street lamps for two years, Leadray will partner with four companies to participate in the competition, the company noted. Leadray has strong R$D capabilities for developing LED heat-dissipation solutions and designing lamp systems, resulting in a breakdown rate of less than 0.5% for its LED street lamps, the company said.
While Leadray is talking about potential orders for more than 600,000 LED street lamps in Taiwan, the company has already had clients in Malaysia, Indonesia, China, Thailand, Germany and Brazil, Leadray pointed out.
Leadray currently has an annual production capacity of 400,000 LED street lamps and expects to reach full utilization in 2014.
With paid-in capital of NT$300 million (US$10.2 million) and Taiwan-based blank optical disc maker Ritek being its largest shareholder, Leadray shipped 24,000 LED street lamps and recorded revenues of NT$240 million, gross margin of 30% and net EPS of NT$1.02 in 2011.
