Mumbai, Maharashtra, India:-- To double capacity in fast-growing CFL lighting market
-- Move towards top position in energy-saving light source products
CG announced that it has entered into a definitive agreement with Himachal Pradesh-based Karma Industries to buy the latter’s compact fluorescent lamp (CFL) manufacturing business. The operations, located in Baddi, Himachal Pradesh, are dedicated to manufacturing CFL products.
This acquisition, which will double CG’s capacity in the fast-growing CFL segment, will be integrated with the Consumer Business unit.
Mr Laurent Demortier, Chief Executive Officer & Managing Director, CG, said, “I am pleased to welcome the Karma family to CG. This acquisition reinforces our presence in the rapidly growing Indian consumer market. The state-of-the-art facility can manufacture 2 million lamps per month, not only providing us with immediate capacities but also allowing us to offer a complete range of CFL lamps.”