Lighting Science announces joint venture with Chinese LED manufacturer

Lighting Science announced a joint venture with Chinese LED manufacturer and lighting company MLS Co, Ltd. The joint venture will operate under the name Global Value Lighting and will be based in Rhode Island. Global Value Lighting will capitalize on Lighting Science’s extensive technology and intellectual property, including the company’s nearly 400 LED lighting technology patents, and MLS’s cost-structure and scale as a global LED lighting company.

Global Value Lighting will combine the retail relationships, channel partnerships and strong customer base that Lighting Science has developed in North America over the past 15 years, with MLS’s manufacturing, processes and cost-efficiencies. Under the terms of the agreement, Lighting Science will own 51% of the joint venture, with MLS owning the remaining 49%.

“The joint venture with MLS will deliver to our retail partners the best value LEDs, while still providing the same or better quality and innovative solutions as high-priced, name-brand manufacturers,” said Lighting Science Chief Executive Officer Ed Bednarcik. “Ultimately, this will help our retail partners drive sales, margins and customer satisfaction through their private label brands.”

“We are looking forward to working together with Lighting Science to offer LED lighting products at an outstanding value for our retail partners and their customers,” said Sun Quinghuan, Chairman of MLS. “Our two great companies perfectly complement one-another and we are excited for a long, profitable partnership.”

For more information:
Lighting Science
(877) 999-5742
customerservice@lsgc.com
www.lsgc.com