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11
April
2012

Philips and Optogan form JV for Russian market

Royal Philips Electronics and Optogan, a Russian manufacturer of LED products, have signed a joint venture agreement to join the LED road lighting market in Russia.
The new company will be 51% owned by Philips and 49% by Optogan. Financial details of the joint venture were not disclosed. Products developed and manufactured by the joint venture will be sold in the Russian Federation and within its customs union with Kazakhstan and Belarus.

In a statement the companies said the partnership will “focus on developing a local LED industry, supporting the energy efficiency (EE) initiatives by the Russian government”.
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