AMS Osram Completes Sale to Focuslight Technologies
03.09.2024 - AMS Osram has successfully completed the sale of assets in the Passive Optical Components sector to Focuslight Technologies.The sale price amounts to approximately 45 million euros in cash.
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Image: Wiley
Aldo Kamper, CEO of AMS Osram, expressed his satisfaction: “The sale of passive optical components to Focuslight Technologies went according to plan. Exiting this non-core business area is a crucial step in our strategic efficiency program ‘Re-establish the Base.’”
The program, introduced on July 27, 2023, aims to focus on the profitable core business and promote sustainable growth. Savings of 75 million euros are expected by the end of 2024, with ongoing cost reductions of 150 million euros by the end of 2025.
The sold assets include buildings and facilities in Singapore and Switzerland, as well as research facilities and intellectual property. The sale was announced on May 7, 2024, and has now been completed.
Contact
Focuslight Technologies Inc.
No.56 Zhangba 6th Road, High-Tech Zone
710077 Xi'an
Shaanxi, China
+86 29 8956-0050
