The Saudi companies plan to cooperate with Philips Lighting to achieve large-scale LED lighting business expansion

Although Saudi is rich in oil reserves, there is the problem of energy waste in recent years, so the government promote energy conservation and sustainable development, and encourage public-private project using energy-efficient LED systems such as high power LED flood light. Facing huge market prospects of Saudi LED, the Saudi local companies plan to cooperate with  Philips Lighting Company to achieve large-scale business expansion in the Saudi market.

   

The “Saudi Gazette” on March 25th 2014 reported that General Lighting Company (GLC) which is a Saudi lighting industry leader  announced an agreement with the global lighting industry leader Philips Lighting Company on Tuesday (the 25th March 2014), which will set up a joint venture in Saudi Arabia.

The joint venture will provide a full range of LED lighting solutions including high power LED flood light and other outdoor and indoor LED light, while consolidating the existing market position of General Lighting Company in Saudi Arabia. General Lighting will follow the Saudi government’s energy efficiency targets with sustainable development technology to achieve market growth. Meanwhile, with the help of Philips LED professional advantage and the advantage of lower global supply chain, General Lighting Company will be unleashed to further increase its market expansion capability.

The joint venture will provide LED products, systems and services throughout the lighting market, while producing and distributing professional high power LED flood light and other commercial and household LED lighting. The joint venture is expected to employ 1,300 workers,which  will further promote regional economic development, and help to strengthen the ideals of Saudi Arabia to realize the local manufacturing sector.

Driven by the impetus of large-scale construction market, government and private energy-efficient lighting project， Saudi lighting market is expected to grow steadily during the period 2014-2018.

Today, General Lighting Company in Saudi lighting market leading position, with six integrated production projects, distribution systems and retail channels, revenues in 2013 amounted to 1.2 billion riyals.

Eric Rondolat， CEO of Philips Lighting Company, said: “By cooperating with General Lighting companies, Philips business in Saudi Arabia will achieve rapid growth，driven by public and private infrastructure, we expect to achieve double-digit growth in local LED usage by 2018.”

According to the investment agreement, Philips specializing in global project LED lighting especially commercial high power LED flood light and household LED lighting solutions acquired 51% stake of General Lighting from the hands of a joint Group.Browsing http://www.lead-lighting.com/products/sid125-1.htm for more information about high power LED flood light.

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