The glassmaker Osram has initiated the sale of its Lighting Solutions (LS) in Munich, Germany.
The management board has decided to divest its LS business unit to focus on high-growth future markets.
Olaf Berlien, CEO of Osram Licht, said: “Thanks to numerous measures, the earnings position of the LS business unit has stabilised significantly, therefore allowing us to initiate an organised sales process.
“This will result in a more strategic focus with regards to applications with high growth potential.”
Talks will be held with interested parties about the sale of the LS. The management board will provide an update on the progress of strategic plans for the company at the Capital Markets Day in November.
As part of its strategic realignment, Osram is refining its positioning with an increased focus on growth markets in high-tech fields.