With effect from May 2007 the Zumtobel Group, Thorn's parent company, has acquired 60% of Thorn India Pvt.Ltd's shares and is now holding a controlling interest of 70%. The company is a sales organization with more than 40 staff members, distributed among four branches located in Delhi, Mumbai/Bombay, Bangalore and Chennai. At present, it generates sales of nearly EUR 6 million. In 2010, the Zumtobel Group will acquire the remaining 30% of Thorn India Pvt.Ltd. The current management will continue Thorn India's business.
Thorn India Pvt. Ltd. was established in 1997. The dynamic development of the Indian lighting market has been the reason for acquiring the shares – with a market volume of more than EUR 400 million, India is the industry's eleventh largest sales market. Andreas J. Ludwig, CEO Zumtobel Group, seeks to boost growth in Asia through strong commitment: "Besides technological innovation and the development of new applications, organic growth in clearly defined regions is one of the main pillars of our growth strategy. With nearly 10%, the Indian market's potential for growth clearly exceeds the European average. Having acquired a majority holding, we can now continue to expand our presence in this growth market."
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Posted on: 1st June 2007, United Kingdom
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Thorn expands business in India
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Thorn Lighting Limited, United Kingdom, Tel: 08701 610 610, Fax: 08701 610 611
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