Jun 7 2010
Lemnis Lighting has signed a new joint venture deal with Tsinghua Tongfang to expand its operations in the China’s light-emitting diode (LED) lighting market. Lemnis manufactures LED-based sustainable lighting products, while Tsinghua Tongfang, a China-based firm, deals in the energy and information markets to promote production and development of LED products for outdoor and indoor segments.
The new joint venture, called the Beijing Tongfang Lemnis Lighting Technology, will enable Tsinghua to expand its reach and gain a competitive edge in the LED lighting market. Under the agreement, both the companies will focus on the sales and marketing network in China as well as the global network by using their respective distribution channels.
Lemnis Lighting’s Chairman, Frans Otten, stated that the company has been searching for an ideal partner to extend its market reach in China. He added that sharing the company’s innovative technology with a reputed Chinese firm is critical for reducing global lighting energy consumption.
Lemnis Lighting’s Chief Executive Officer, Remko Gaastra, commented that the new join venture will help in developing new applications, will generate good economy, and will accelerate the adoption of LED lighting in both China and the global market.
Tongfang Holiding’s Director, Lu Zhicheng, stated that the new partnership will enable the company to become a key player in the global market and gives them access to popular light source and technology.