Koninklijke Philips N.V.
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Publicatie datum
27 mrt 2008 - 09:02
Statutaire naam
Koninklijke Philips N.V.
Titel
Philips to establish a manufacturing joint venture for energy-saving light bulbs in Southern Africa
Bericht
March 27, 2008
PHILIPS TO ESTABLISH A MANUFACTURING JOINT VENTURE FOR ENERGY-SAVING LIGHT BULBS IN SOUTHERN AFRICA
- Production facility will accelerate the uptake of energy-efficient lighting bulbs
- Production facility will fuel economic growth in Southern Africa
Amsterdam, The Netherlands – Royal Philips Electronics (NYSE:PHG, AEX:PHI) today announced it plans to participate in a joint venture to set up a manufacturing facility, as well as a recycling plant, for energy saving Compact Fluorescent Lamp integrated (CFLi) light bulbs in Lesotho, Southern Africa. The facility will be set up jointly with CEF which is a private company held by the State of South Africa that focuses on opportunities in the energy sector in the region, and Karebo Systems, a privately owned company specialized in energy efficiency programs in the lighting and energy sectors. Philips holds a 40% stake, while CEF and Karebo Systems each hold a 30% in the joint venture.
This joint venture is a result of the United Nations Conference on Trade and Development's mission to seek new business activities that will fuel economic growth in this region. With this joint venture
Philips will be able to help stimulate economic growth while accelerating the uptake of energy-efficient light bulbs in general.
The market for CFLi energy-saving bulbs is growing rapidly globally and is expected to accelerate in the South African region through the efforts of the national government to significantly reduce energy consumption. Its intention is to replace 80% of incandescent bulbs with CFLi energy-saving bulbs within the next four to six years. However, Philips expects to reduce this timeframe to approximately three years with the establishment of the Lesotho production facility. CFLi saves 80% energy compared to incandescent bulbs and will help overcome energy shortages now being experienced in the region.
The production facility in Lesotho will be run by local management, and is planned to be offici
Datum laatste update: 15 februari 2025