Electronics Production |
GE, Nichia in LED alliance
General Electric Company (GE) and Nichia Corp. have formed a strategic alliance to support GELcore LLC, a Cleveland-based LED joint venture between GE and Emcore Corp.
In this deal GE also acquired Emcore's 49 percent in the joint venture for $100 million.
"GE and Nichia's combined excellence creates a preeminent alliance that is ideally suited to support GELcore's efforts to accelerate the growth and penetration of LED-based lighting solutions in the $12 billion global lighting segment," said Michael Petras Jr., vice president, Electrical Distribution & Lighting for General Electric.
