After revealing its sluggish business performance, Osram announced that it will strengthen its automotive business by acquiring aftermarket specialist Ring Automotive.
With the acquisition, Osram plans to expand its aftermarket portfolio and reach end customers via the distribution channels of Ring Automotive in the UK. In addition, Ring’s specialization in electronic car accessories complements Osram’s product range.
Moreover, Osram will give the ring portfolio access to the US market via the established Osram Sylvania channels and opens up new sales potential in Europe and the rest of the world with a differentiated brand strategy.
George Skalski, Managing Director of Ring Automotive said, “We look forward to working alongside Osram and believe that the transaction is very positive news for all of our colleagues and customers. The acquisition secures continued investment in the business, which will support our future growth plans and our leading-edge product innovation.”
The sale price and financial details of the transaction were not revealed as agreed by both parties
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.
Over the past 50 years, Nichia has demonstrated its commitment to improving the overall performance…
To fund the acquisition and ongoing operation of the production facility, BluGlass has secured A$3.4…
New CAS 140D IR spectroradiometer with improved optical and electronic components offer the user higher…
SSC boasts world's only LED and LD technology for vehicles using all wavelengths of light…
E-cars do not have a classic radiator grille, so the front of the vehicle…
“We welcome the further alignment of ANSI C137.4-2021 and D4i, which is expected to lead…