Philips will create company for automotive lighting and LEDs

Dutch manufacturer Royal Philips Electronics announced on Monday the formation of a company to its lighting business, with the Union of business responsible for LED light and components for automobiles. The idea is to try and attract capital injections from strategic partners.
Going forward, the company intends to intensify its focus on the products of the calling thread of Lumileds, which includes lamps, luminaires, lighting systems and services — both for the industry as a natural person.
The group will keep the remainder of its assets of enlightenment as an area within the holding. The operations include, for example, to manufacture and sells common light bulbs. The projection is that the costs for that production activities and LED light for vehicles are separated to reach 30 million by the end of 2014.
"Both the Lumileds as the automotive segment are strong competitors in their markets within the lighting industry and are ready to conquer a larger scale and more robust growth independently of the Philips", commented the Dutch President, Frans van Houten, said in a statement.
The company is the largest manufacturer of lighting products in the world.