Westinghouse Lighting Corporation
, a leading manufacturer and marketer of more than 5,000 lighting products, announced its acquisition of Radiant Lamp Company from Philips Lighting Company, the US-based lighting division of Royal Philips Electronics (NYSE: PHG, AEX: PHI). Radiant Lamp Company offers an exclusive line of differentiated light bulbs to service lighting distributors in North America.
"We are delighted to have reached this important agreement with Philips," says Stan Angelo, chairman of Westinghouse Lighting Corporation. "We will employ all of our resources to make the transition a success and to assist these new customers in the continued growth of their businesses. Our new lighting technologies will be a natural enhancement to the specialized Radiant business so brilliantly pioneered by Philips."
Under the terms of the agreement, Philips will continue its strong manufacturing relationship with Radiant. This assures Radiant customers continuity of precision manufacturing and quality standards and ensures a seamless transition for Radiant's existing customer base. In addition, Westinghouse is enhancing the product offering with incandescent, halogen, HID and other energy efficient lamps. Radiant will now be serviced through Westinghouse's four national distribution facilities.
"Philips believes that Westinghouse is the one company that will best preserve the Radiant Lamp organization's legacy of service and quality and is pleased Westinghouse has made this commitment to us," says E.C. M. Bouts, president and CEO, Philips Lighting Company.
Hank Bachman, former director of Radiant Lamp will serve as managing director of the new Radiant Lamp division. The current sales management team will retain their positions under Westinghouse. Philips and Westinghouse are working closely to assure that there will be no disruption in service during the ownership transition.