SOURCE: Forest Lighting

Forest Lighting

November 09, 2015 13:33 ET

Forest Lighting Parent Company, MLS, Intends to Bid for Osram Licht AG

Osram Assets Include US-Based Osram Sylvania

ATLANTA, GA--(Marketwired - November 09, 2015) - Forest Lighting, the USA division of global LED manufacturing leader MLS of China, says the MLS Board of Directors has approved the company's intent to bid to acquire the assets of Osram Licht AG, of Munich, Germany. MLS joins several other companies who have announced their intent to consider a purchase of Osram.

Osram was spun off by Siemens in 2013, and is currently traded on the Frankfurt and Munich Stock Exchanges. Annual revenue is approximately EUR5 billion and it employs 34,000 people around the world. In the United States, Osram Sylvania has a well established reputation for innovative lighting products.

MLS annual revenue is approximately $2 billion, and is traded on the Shenzhen Stock Exchange. The company recently announced it had purchased an 11% stake in Kaistar Lighting, which owns Bridgelux.

"Speaking for MLS USA business, I am eager to watch this process play out," said Jian Ni, chief operating officer of Forest Lighting in Atlanta. "If the end result is a connection with Osram Sylvania, it certainly would enhance our US presence."

About Forest Lighting (www.forestlighting.com)

Forest Lighting, based in Atlanta, Georgia, is the USA subsidiary of MLS Co., Ltd. of China. MLS is among the top ten largest LED manufacturers in the world (Source: IHS Technology). MLS has experienced 20% annual growth, has 12,000 employees, and annual revenue in the $2 billion range. Recently listed on the China stock exchange, the company is an ISO 9000 and ISO 14000 qualified manufacturer, and LED manufacturing capacity exceeds 16 billion units. Products are UL Listed and DLC Qualified. Forest Lighting LED products are RoHS compliant, reflecting the corporate commitment to sustainability.

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