Recently, the most publicly-reported event in the lighting industry is the news of a Reuters insider, who reported that Mulinsen and Foshan Lighting are bidding for GE Lighting, with a transaction value of $1 billion. The 100-year-old lighting giant founded by Edison has been paying attention to the lighting business. This influence on the future global lighting pattern cannot be ignored. Recently, the most publicly-reported event in the lighting industry is the news of a Reuters insider, who reported that Mulinsen and Foshan Lighting are bidding for GE Lighting, with a transaction value of $1 billion. The 100-year-old lighting giant founded by Edison has been paying attention to the lighting business. This influence on the future global lighting pattern cannot be ignored. As early as October 7, 2015, when GE announced the establishment of the new company Current, some insiders speculated that GE would sell the lighting business. Xiaobian simply sorted out the relevant sales news of this major sale since its inception. Closing the traditional lighting factory In August 2016, GE announced that it will close the Lexington Light Factory and Somerset Glass Factory in Lexington, Kentucky, USA in August 2017. The Lexington Light Factory produces traditional lamps, while Summer Sett produces halogen lamps, a factory that shifts 20% of its production capacity to LED lighting. Exiting the Asian and Latin American markets In September 2016, GE Lighting announced that it will terminate all direct commercial activities in Asia and Latin America from November 30, ie exiting the Asian and Latin American markets. As part of its business portfolio restructuring, GE decided to stay away from traditional lighting technologies and focus entirely on LEDs. Passing out of consumer lighting business On April 6, 2017, the international lighting industry sent a heavy news: GE may withdraw from the consumer lighting business market. According to people familiar with the matter, GE has hired an investment bank to help it evaluate the possibility of selling consumer lighting business, which may bring $500 million in sales, but it is not yet guaranteed to close. The business GE is considering selling includes North American residential LED lighting and home networking technology. The company plans to retain a commercial LED lighting business called Current. Officially announced the sale of lighting business On June 9, 2017, according to foreign media reports, GE announced the sale of GE lighting in an internal email on the 8th. The email emphasizes that negotiations are in the early stages and GE Lighting will consider several strategic options. GE will consider strategic options based on the final terms of potential buyers and may sell different business units of GE Lighting to different buyers. It does not include professional lighting or other products and services sold by GE's Current. Lighting business led by Current From the third quarter of 2017, after the planned sale of lighting business, GE separated the energy interconnection business, which began to merge into GE Power. As a result of this combination, GE Lighting and Current are reported as an independent part of the lighting business will be led by GE's Current company, the future GE lighting business is only a part of Current. Lighting business and Current are not portrayed in the future blueprint On November 13, 2017, GE's new CEO Flannery stated in GE's future blueprint that GE will focus its business in the three areas of aviation, energy and healthcare. But there is no mention of the lighting business or even Current. Current is in the sales business in early February this year, foreign media reported that GE has revealed that it has more closely integrated its traditional lighting business with its new lighting and energy sector Current, and is also looking for these two services. Buyer. At the same time, GE previously issued a footnote in its fourth quarter financial report, saying that the company is currently calculating the revenue of Current and other lighting businesses as a department, namely the lighting business unit. Foreign media said that potential buyers may include several lighting manufacturers from China and Europe. Agreed to sell the European portion of the overseas lighting business In mid-February, GE announced a deal to agree to sell GE Lighting's operations in Europe, the Middle East, Africa and Turkey and the global automotive lighting business. The buyer is a company controlled by its former executive Joerg Bauer. . The transaction included GE Lighting's five factories in Hungary, regional sales offices and other properties, and the transaction amount was not disclosed. It is reported that the new business will operate under the name of the Tungsram Group. The final conclusion of the transaction depends on the approval of the regulatory authorities. In addition, GE Lighting's North American consumer business and other assets continue to be sold as other parts, and GE is still looking for buyers for them. Chuan Mulinsen and Buddha Photo bid for the remaining lighting assets On March 5, according to sources familiar with the situation, at least two Chinese companies are preparing to bid for GE's remaining lighting assets, the transaction size may reach 1 billion US dollars. Among them, Mulinsen and Foshan Lighting are negotiating with the lender. Another source said that GE will release information about the sales process for parties interested in bidding, and will send an information memo in the next few weeks before making the first round of bidding. General Electric did not comment. At present, Mulinsen’s views are not available, and Foshan Lighting did not immediately respond to the request for comment. According to GE's China manager, the lighting business accounted for only about 2% of GE's sales. And lighting business revenue is continuing to decline in recent years, according to GE's fourth quarter financial report, its overall revenue fell by 5%. Among them, lighting business revenue fell 7%, from 584 million US dollars in the fourth quarter of 2016 to 546 million US dollars. GE Lighting's accelerated sale of lighting business is reasonable. Affected by the increasingly bright LED and lighting industry in the mainland, Philips, Osram and GE, the world's three major lighting giants, have successively withdrawn from the general lighting market. Philips has split the lighting business in 2016 and has successively sold its Philips Lighting Company. Shares; Osram sold its general lighting business, Landewans, to the Mulinsen joint bidder in 2017 for more than 400 million euros in 2017. GE is also stepping up its sales of its lighting-related business. At the same time, China's lighting power is igniting the global lighting market. Mulinsen's annual revenue reached 8.169 billion yuan last year, becoming a domestic benchmark lighting company, followed by Ou Pu Lighting's 6.957 billion yuan, and the growth is gratifying. The global lighting industry environment is taking place. Changes, the lighting pattern will be reconstructed.
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