Philips Starts Taking Over Genlyte On January 24, ’08

January 16, 2008 at 10:31 pm | Posted in Lighting | Leave a comment

From Lighting insiders…. the transition begins the week of January 15 and Philips will take full control of Genlyte Group on Jan 24 hopefully. During this period, there is no shipping and order entry in the warehouses and service centers under Genlyte Group.

From distributors’ point of view, jobbers suffer the most. They cannot complete the projects due to back ordered materials. For the investors of Philips, the first quarter of 2008 is the most profitable period during this global economic “recession”… especial in US after Citigroup laid off 4200 plus employees yesterday.


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