Sylvania listing will create war chest for acquisitions

Sylvania’s debut on the London Stock Exchange will create a large war chest for acquisitions, president Rajiv Goel has told the press.

The lighting giant – the fourth largest lamp maker in the world – will use the funds raised by its flotation to drive both organic growth and strategic purchases of lighting firms.

‘The company is evaluating a couple of proposals and is hopeful of closing at least one of them,’ Goel told the press. He confirmed that an IPO in London - long speculated by informed observers - would take place later this year.

The parent company, Delhi-based electrical equipment manufacturer Havells – itself listed on the Bombay Stock Exchange – bought Sylvania in 2007 for US$300 million (€216 million).

European chief Christian Schraft, pictured, told Lux Review that the priority for the company was the market for light fittings.‘It’s important for us to be well positioned in the fixture business, developing that into intelligent lighting controls and so forth. It’s not a priority to be a player upstream on the components side.’

‘Havells Sylvania is uniquely well placed as it’s one of the handful of players who do both lamps and fixtures. That set-up will help us develop the competencies needed for a more solutions-driven business, being closer to the application and being closer to our customers.’

See a full video interview with Christian Schraft here