Suprajit Engineers To Acquire The Halogen Bulb Manufacturing Facility (near Chennai) From M/s. Osram India
Suprajit Engineering Ltd. (Suprajit) has entered into an Asset Purchase Agreement to acquire the Halogen Bulb manufacturing facility near Chennai from M/s. Osram India Pvt. Ltd. (Osram). This plant to produce comprehensive range of halogen bulbs includes land, building and a complete range of manufacturing facilities. The transaction is expected to be completed by the end of September 2019 and will be funded by internal accruals.
With this acquisition, Suprajit’s Halogen Bulb’s annual capacity will increase from 87 million to about 110 million. Suprajit will emerge as one of top 3 manufacturers of Halogen Bulbs in the world.
Through a separate agreement, Suprajit will become a part of the global supply chain to Osram and will start to supply Halogen bulbs from its plants in India including the acquired plant near Chennai.
Osram is a respected global brand and owned by Osram Gmbh. Osram will continue to operate on its own, serving their customers in the OEM, other label and the aftermarket segments in India and Osram’s commitments towards its customers do not change in any way.
“We continue our philosophy of de-risking and growing our business with our customers. With this additional plant in the South of India, we have achieved this objective. We look forward to welcome the team at Osram plant into the Suprajit family” – said Mr. Ajith Kumar Rai, Chairman, Suprajit Group..
“We are honoured to have a leading organisation such as Osram to be our customer and also own and manage the plant operated by the Osram team. While adding to the capacity, we will evolve as a reliable manufacturing partner for marquee global customers” – said Mr. Mohan Nagamangala Srinivasan, Managing Director and Group CEO.
“In the next few months, we will be working closely with Osram team to ensure smooth transfer of the plant and its Operations into our fold” – said Mr. Akhilesh Rai, CSO Suprajit Group & Mr. Akhilesh Goel, COO & Head Phoenix Lamps Division.