After participating in the successful acquisition of Osram's general lighting company, Randy Vance, Mulinsen's overseas market expansion has not stopped.
On March 20, 2017, Mulinsen issued the announcement of Mulinsen Co., Ltd. on the signing of the “GLOBAL VALUE LIGHTING Co., Ltd. Operating Agreementâ€.
The company has signed the "GLOBAL VALUE LIGHTING Co., Ltd. Operating Agreement" with LIGHTINGSCIENCE GROUP CORPORATION (hereinafter referred to as "LSG") and LSG MLS JV HOLDINGS (a subsidiary of LSG, hereinafter referred to as "SPV") (hereinafter referred to as "Operating Agreement" 》â€).
Mulinsen will jointly establish GLOBAL VALUE LIGHTING Co., Ltd. with SPV for US$4.9 million, accounting for 49% of the company's total capital contribution. In addition, in this transaction, the company will acquire a preferred stock of SPV.
Basic situation of the transaction target
Name: Global Value Lighting LLC
Registered Address: 615 DuPont Road South, Dover, Delaware
Registration Authority: Capitol Services
Main place of business: Room 204, No. 1350, Division Road, West Warwick, Rhode Island
Business Scope: Promotion, sales and distribution of private label LED lighting products and services to stores and commercial customers in North and South America.
Mulinsen said that LIGHTING SCIENCE GROUP CORPORATION is one of the major suppliers of LED brand-owned lighting products in the United States. It owns its own brand sales channels for supermarket stores including Home Depot, and is engaged in advanced and environmentally friendly LEDs. Design, development and sales of sustainable and differentiated lighting solutions.
Relevant personnel of Mulinsen said that the establishment of the joint venture company can effectively expand the company's overseas sales channels, promote the development of the company's overseas business, enhance the company's comprehensive competitiveness, and comply with the company's development plan.
With the rapid development of domestic LED technology, the performance of LED products has been rapidly improved, the cost has dropped rapidly, and the market penetration rate has expanded rapidly. It is a trend for domestic LED companies to go overseas.
In fact, the volume of the entire overseas market is indeed much larger than that of China. From the perspective of population and GDP, overseas markets have great potential for development. At the same time, the global market is also very dependent on China's production and manufacturing capabilities, so the Chinese LED industry will also usher in new opportunities.
As the domestic market becomes saturated, Chinese LED companies must “go out†and expand the global market in order to find new growth poles and profit growth points for the industry. From the current overseas market, North America and Europe are still the main export destinations for Chinese LEDs.
Lin Jili, executive general manager of Mulinsen, used a string of digital images to compare the great appeal of overseas markets. He combined with Mulinsen's growth in products, channels and even brands, bluntly: the "vision" of the company determines the "world" of the market.
From the perspective of China, China's current area of ​​9.6 million square kilometers is spread over more than 20,000 companies. Each company has a market area of ​​480 square kilometers. From a world perspective, the world's 149,000 square kilometers are spread out. In the world's more than 30,000 lighting companies, each company has a regional market of 4,967 square kilometers.
The US Department of Energy report predicts that the overall size of the US lighting market in 2016 will reach $25.1 billion. The US market is the largest overseas market for Chinese companies, comparable to Europe.
Among the countries that import LED products in the United States, China's products accounted for 70.50%, and the amount was about 420 million US dollars. Two-thirds of Americans have purchased household LED lighting products.
Because the North American market is relatively less sensitive to prices, it has become a lucrative region. The profits are high, and the competition in the North American market is naturally more intense and the threshold is higher.
At the same time, newcomers in the North American market also have great disadvantages in the channel.
Nie Pengxiang, chairman of the incentive testing company, said that because of its relatively hidden channels, the occupants of the original traditional lighting channels continue to enjoy the dividends brought by traditional lighting channels after the transformation of LEDs. It is difficult for newcomers or small and medium-sized enterprises to compete for some market share from traditional giants.
Through the acquisition of the recitation of Wans, the establishment of a joint venture, coupled with the development of the brand's own brand in the North American market in the past few years, will undoubtedly increase the future of the future expansion of Mulinsen's overseas market.
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