Indal announces aquisition agreement with Philips

Date Announced: 30 Jun 2011 INDAL ANNOUNCE AQUISITION AGREEMENT WITH PHILIPSIndal has announced that it has entered into a preliminary agreement to be integrated with Royal Philips Electronics (AEX: PHI, NYSE: PHG).An agreement has been reached between both parties subject to EU Competition Authorities’ approval, which is expected to take up to nine months.During the intervening period, Indal WRTL will remain autonomous, maintain continuity and continue its driven sales and marketing strategy to achieve ambitious group goals and win further market share.Indal has earned its position as the market leader of LED exterior lighting products during the past three years. It has permanently changed the industry, setting expectations of performance, energy saving and least cost of ownership. The Company celebrates astonishing ongoing success and continues to exceed customer expectations.Its ground-breaking Stela LED luminaire has been adopted by more than 100 local authorities with more than 60,000 units currently installed.Not surprisingly, Indal WRTL attracts a lot of media and commercial attention with each contract won from competitors. These include the high-profile Birmingham Highways Maintenance and Management contract, the Transport for London pilot scheme using Indal’s T-line linear LED tunnel lighting solution at the Upper Thames Street tunnel and the Lancashire County Council contract which is approaching a significant milestone with the installation of its 10,000th Stela luminaire.LED technology from Indal is not limited to residential streets and tunnels. Its latest innovation, an ME Class LED solution for traffic routes and motorways, is set for imminent launch. Luma will deliver the standards and service expected from the Company’s products, including energy savings and 100,000 hour service life.Indal WRTL has never been more noticeable or successful and will continue to provide a growing customer base with superior solutions, cost of ownership, performance and service.About Indal WRTLWRTL Exterior Lighting Ltd is one of Europe’s largest suppliers of exterior lighting, with over 80 years of experience, and more than 500 lighting products and control systems. Part of the Indal Group, WRTL specialises in total exterior lighting solutions for commercial and public amenity applications, including transport, roads, tunnels, infrastructure, land and cityscape, retail and leisure developments.

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