HABO, Sweden, Aug. 7, 2020 /PRNewswire/ -- As a part of
the on-going strategic review, the Fagerhult Group investigates
different exit options for its South African business, Lighting
Innovations Africa.
Lighting Innovations is one of the main domestic manufacturers
of professional lighting solutions in South Africa, with a turn-over of 161 ZAR million (~85 SEK mn) in 2019.
"Since the acquisition in 2015, Lighting Innovations has managed
the LED transition and maintained a position as a strong local
brand for professional lighting solutions. However, the market has
not developed as expected and we have decided to focus our
investments on more attractive growth opportunities in other
market," says Bodil Sonesson, CEO
Fagerhult Group.
The process will be completed during 2020.
For more information please contact:
CEO
Bodil Sonesson
+46 722 23 76 02
bodil.sonesson@fagerhultgroup.com
CFO
Michael Wood
+46 730 87 46 47
michael.wood@fagerhultgroup.com
This information is information that AB Fagerhult is obliged
to make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of
the contact persons set out above, at 13:00
CET on August
7th 2020.
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Fagerhult Group has
decided to exit its South African business Lighting
Innovations
|
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SOURCE Fagerhult