Taiwan-based LED packaging house Everlight plans to spend less than EUR10 million (US$13 million) to acquire 100% of a Germany-based lighting fixture firm, according to the firm.
Everlight has been promoting own-brand Everlight Lighting for the past two years and has been successful in the Taiwan market. The firm plans to expand business in China in 2013. In addition, Everlight stated, the acquisition of a Europe-based firm is the first step to entering the Europe market. The acquisition will be beneficial for the firm towards obtaining distribution channels in Europe, added Everlight.
The firm noted that the LED lighting business has been healthy in 2013 and expects LED lighting sales to account for the majority of total revenues in the future. In 2013, sales from LED lighting are likely to account for 15%, said the firm.
Everlight has been expanding capacity of LED lighting packaging components and monthly capacity is expected to expand by 20%. The expansion plans are expected to be completed in the second half of 2013, Everlight disclosed.
