Zhuang Shenan the new owner of Sylvania lighting has indicated that he plans to use the company as a springboard for making a string of further international acquisitions.
'We want to expand further into the global market and we plan to do this by acquiring famous international brands,' Shenan told Lux. 'Having acquired Sylvania we now have a very famous international company and also international sales channels throughout the world.'
Shenan, who is president of Shanghai Feilo Acoustics, is planning to open new factories and logistics centres in the UK and France, while retaining jobs in a wide ranging company revamp. The Chinese billionaire inked a £200 million deal to takeover Sylvania last year.
'We want to expand into the global market and we plan to do this by acquiring famous international brands. Having acquired Sylvania we now have a famous international company and also international sales channels throughout the world.'
‘We will restructure and consolidate Sylvania’s European manufacturing operation and we will also utilise our own manufacturing plants to help the company amplify its product portfolio,’ Shenan continued.
Feilo’s owner stated that he has no plans to close factories in Europe, but intends to move the company’s focus towards smart LED products.
The Chinese firm and Sylvania have been working together for some time and have cooperated over a string of recent technological developments.
‘I believe that the future of LED lies in smart lighting and the customisation of devices. There is evidence that innovation in this area is starting to slow, so we need to ensure that it starts to speed up,’ Shenan concluded.
- Smart lighting will be discussed at this year's LuxLive 2016 exhibition in London on Wednesday 23 November and Thursday 24 November. Entry is free if you pre-register. Click on the logo for more information.