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Philips Acquires Dynalite
Royal Philips Electronics has announced the purchase of lighting control developer Dynalite. The Australian company has become part of the Lighting Electronics business within the Philips Lighting Sector.
With offices in Australia, the UK, China and Dubai, Dynalite has grown steadily in prominence since its formation in 1989. Last year saw the company post a double-digit profit margin and sales growth. The combination of Dynalite and Philips is estimated to represent a total market value of approximately €2 billion.
Rudy Provoost, chief executive of Philips' Lighting Sector, commented: "Sophisticated lighting control systems can provide our customers with significant cost and energy savings. A variety of lighting control methods present a solution to suit any setting, ensuring that energy is not consumed unnecessarily, while providing the user with complete flexibility and control over their environment. As such, the acquisition of Dynalite enables us to further strengthen our offering of integral energy management solutions to major corporations, property developers and hotel groups.
"Having a prominent lighting controls business will help us to further capitalise on the growing demand for energy-saving solutions. This is fuelled by trends towards net zero CO2 buildings and the accelerating global switch to green energy-saving solutions, partly enforced by increasing government legislation."
31st March 2009
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