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Environmental & Social Information • Jul 11, 2013
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Press Information
July 11, 2013
Philips and CEC team up in intelligent road lighting joint venture in China
Beijing, China – Royal Philips (NYSE: PHG, AEX: PHIA) and China Electronics Corporation (CEC) today announced the signing of a joint venture agreement to become a leading player in the intelligent road lighting market in China. After the necessary regulatory approvals have been obtained, the new company will be 70% owned by SED, part of the CEC group of companies, and 30% by Philips.
The joint venture will focus on intelligent controls, software and LED fixtures for road lighting. The cooperation combines Philips’ strong innovation capabilities in road lighting with SED’s knowledge of local market requirements. The Chinese government is promoting the development of more energy-efficient cities, including the upgrade to LED technology and intelligent lighting management systems.
“The agreement between SED, one of the Chinese pioneers in the LED industry, and Philips, a worldwide leader in innovative lighting solutions, is a milestone for both parties to accelerate growth in the area of intelligent lighting for cities in China,” said Liu Liehong, President of CEC. “The joint venture combines the strengths of the two companies, allowing us to shape the LED transformation to energy-efficient and intelligent public lighting in China.”
“Philips is responding to the call of the Chinese government to develop more environmentally-friendly and intelligent cities with our LED lighting solutions,” said Patrick Kung, CEO of Philips Greater China. “The partnership with SED will allow Philips to serve local customers even better with meaningful innovations and further build on our success in China.”
The joint venture’s offering will include Philips CityTouch, an innovative web-based intelligent management system for street and road lighting in a city. It enables online, dynamic and flexible control of lighting on a city-wide scale, allowing cities to use light only when and where it is needed, maximising efficiency while ensuring visibility and road safety. Combined with LED lighting, it delivers energy and maintenance savings of up to 70%.
For further information, please contact:
Elena Calamo Specchia
Philips Corporate Communications
Tel: +31 6 2500 4735
E-mail: [email protected]
Joost Akkermans
Philips Corporate Communications
Tel: +31 6 3175 8996
E-mail: [email protected]
About Royal Philips:
Royal Philips (NYSE: PHG, AEX: PHIA) is a diversified health and well-being company, focused on improving people’s lives through meaningful innovation in the areas of Healthcare, Consumer Lifestyle and Lighting. Headquartered in the Netherlands, Philips posted 2012 sales of EUR 24.8 billion and employs approximately 116,000 employees with sales and services in more than 100 countries. The company is a leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as male shaving and grooming and oral healthcare. News from Philips is located at www.philips.com/newscenter.
About China Electronics Corporation:
China Electronics Corporation (CEC) is the largest state-owned IT enterprise in China specializing in providing IT products and services. Its core businesses include integrated circuit and related key components, software and service, computers for professional use and related core parts, flat panel display, and logistical and IT services for e-trade and science parks. CEC has 37 subsidiaries and 16 listed affiliates with controlling interests, with a total of more than 126,000 employees. In 2012, CEC achieved a turnover of RMB 183.04 billion, with sales and services in more than 100 countries. Since 2011, it has been listed in Fortune 500 companies for three consecutive years. CEC is a domestically leading company with international competitiveness in the following areas: computers for professional use and related core parts, flat panel display, integrated circuit and related key components, software development and services, as well as logistical and IT services for e-trade and science parks . For more information, please visit http://www.cec.com.cn.