Dialight expands into Japan
Newmarket, UK (14 June 2011) – Dialight plc (‘Dialight’), the innovative global leader in LED lighting technology, is pleased to announce the formation of Dialight Japan KK as a further step in the company’s global thrust into the industrial and hazardous LED lighting market.
Dialight Japan KK has today signed agreements to acquire the assets and contracts of its Japanese distributor, I-Spec Ltd for an upfront consideration of £0.2m and a 25% stake in Dialight Japan KK. All employees of I-Spec will transfer to Dialight Japan KK with additional consideration due to the shareholder employees over the next five years based on the future profitability of the new company. The transaction is expected to complete on the transference of contracts at the end of June.
Dialight Japan KK is based in Hamamatsu in the industrial heartland of central Japan. The industrial and hazardous lighting segment is highly regulated and there are in excess of 50,000 industrial facilities in Japan making this one of the world’s largest industrial / hazardous lighting markets.
Roy Burton, Group Chief Executive of Dialight said: “The formation of Dialight Japan KK will enable us to access new and demanding markets known for their stringent requirements and for which our high specification LED lighting and controlled manufacturing methods will be well suited. This expansion marks a significant step in our overall growth strategy.”
i-Spec's Managing Director, Mr Yoshinori Sugiura, will continue in the same role for the new company and commented: "As the world's third largest economy and third largest oil refiner in the world, and with ambitious CO2 reduction targets, Japan represents a large and highly discerning market for Dialight's proven energy efficient technology.”
To find out more about Dialight Japan KK visit: http://www.dialight.co.jp/
Contacts:
For further information:
Dialight plc Tel: +44 (0) 1638 778640
Roy Burton - Group Chief Executive
Mark Fryer- Group Finance Director
Canaccord Genuity Limited Tel: +44 (0) 20 7050 6500
Simon Bridges -
Kreab Gavin Anderson Tel: +44 (0) 20 7074 1800,
Robert Speed-
Email: dialight@kreabgavinanderson.com
Michael Schratz, Director of Marketing, Dialight, 1501 Route 34 South, Farmingdale, New Jersey 07727, USA. Tel: 1 732.751.5897 email: mschratz@dialight.com
About Dialight
Dialight plc is leading the lighting revolution for industrial users across the world. Applying leading edge LED technology it produces retro-fittable lighting fixtures designed specifically for hazardous locations, obstruction lighting, traffic and rail signalling to vastly reduce maintenance, save energy, improve safety and ease disposal. Versions of these high specification luminaires are also produced for more general commercial, industrial and outdoor situations.
Dialight comprises the following business segments:
· Signals/Illumination which addresses the increasing demands for Energy Efficient Lighting solutions through the use of high brightness LEDs and utilisation of a number of associated technologies. Areas of business include Traffic and Rail Signals, Obstruction Lights and Solid State Lighting products.
· Indication components whose sales are primarily to Electronics OEMs for status indication; and
· Electromagnetic components which supplies smart meter disconnect switches which are used by utility companies to manage remotely electrical supply to residential and business premises.
The company is headquartered in the UK and listed on the London Stock Exchange (LSE:DIA.L,GB0033057794) with operating locations in the UK, Australia, USA, Denmark, Germany and Mexico. More information is available at Dialight's website.
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