Osram, the global lighting manufacturer, spun off the lighting business unit and attracted mainland LED manufacturers to compete for the bid. In the past, Osram only sold the brand and channel business. However, Osram recently sent more than a thousand LED lighting patents. Selling, this is undoubtedly a great news for mainland manufacturers with few technical patents. For this reason, it may also add more flavor to the bidding. The industry predicts that the Osram lighting division sale will be finalized before the second quarter of 2016.
In 2015, global lighting giants Philips and Osram successively split LED or lighting business units. After the announcement of the sale of bargaining news by OSRAM Lighting Department, mainland manufacturers have expressed their intention to participate in the bidding, and many large factories have strong backgrounds. Each seeks funding attention or support, and the bidding case is heating up rapidly.
Among them, Mulinsen, China's largest LED packaging factory, demonstrated its determination to grab the bid. General Manager Lin Jiliang said that among the existing bidders, Mulinsen is best able to complement Osram because of its packaging economy and lighting manufacturing capabilities.
China's foreign M&A moves frequently, and in addition to semiconductors, the LED field is also quite active. Following the acquisition of Philips Lumileds by the officially funded GoScale fund in China, many Chinese factories have also bid for OSRAM Lighting, intending to obtain OSRAM's extensive access in Europe and around the world.
It is understood that there are three major Chinese manufacturers who express their willingness to bid for Osram: Tsinghua Tongfang, Dehao Runda and Mulinsen. The former two are LED upstream epitaxial factories, Tsinghua Tongfang has an official color, but the production capacity of epitaxial is limited, and the number of MOCVD machines is about 60; Dehao Runda has acquired Jianlongda and NVC lighting in the past, and nearly 100 MOCVD machines. There are R&D and production bases throughout China.
Mulinsen is a downstream LED packaging factory. In recent years, it has actively expanded its production capacity and has close cooperation with Taiwan's Leijing Leading Jingdian. In connection with its joint venture in India, Mu Linsen holds 60% of the shares; Jingdian holds 40% of the shares. At present, the packaging capacity has reached 35 billion pieces per month. It is currently the largest in China and is also ranked among the top ten LED factories in the world.
According to the analysis of the LED industry, Mulinsen participated in the bidding for the final expression. However, because it has no official color and has its own brand lighting and packaging capacity, it can expand the Osram lighting channel and expand its estuary in Europe. Therefore, the bidding intention is the strongest and the odds are won. Also the biggest.
Philips Lumileds was originally awarded the GoScale Fund for $2.8 billion, but the valuation was considered too high by the market; the acquisition of OSRAM Lighting is generally estimated to be worth less than $1 billion.
Lin Jilin, general manager of Mulinsen, said that the case is still under negotiation. “Many of the peers are involved in the bidding, but Mulinsen is the best complement to Osram. This is also an important milestone for Mulinsen to go international.†He pointed out that Mlinson’s current three business directions are LED packaging. The finished lighting products and brand business; if the acquisition of Osram can be successful, the downstream estuary will be expanded; and the lighting brand of OSRAM will also be backed by the huge capacity of Mulinsen.
In recent years, Osram Lighting has faced a decline in traditional lighting business such as incandescent lamps, which has to be filled by the performance of LED products. The current turnover is barely maintained. However, in terms of the quantity of shipments, it represents a rapid decline in the market share of OSRAM. Lin Jiliang said that Mulinsen can help OSRAM control costs and make its organization lighter and more flexible. OSRAM has a good track, brand and technical team, but after 2012, indoor lighting such as LED bulbs and tubes have increased rapidly, making it difficult for OSRAM to adapt to the current short-lived LED lighting product life cycle. Lin Jiliang added that the previous product life cycle was about 5 years, and now it is about 9 months, and the products are usually still in the certification stage in the previous 9 months.
If this acquisition is successful, Mulinsen has the opportunity to extend the Osram brand. At that time, Mulinsen and Osram lighting brands will coexist. In addition, in response to OSRAM's expansion plan in Malaysia, General Manager Lin Jiliang also mentioned that he would not seek to cooperate with OSRAM in the upstream, such as epitaxial wafers and chip parts, and hopes to integrate with Osram in the middle and lower reaches to create a complete industrial chain.
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