Acuity Brands, a recognized leader in innovative, technologically-advanced lighting products and solutions, and Samsung LED, a global leader in LED technology, will collaborate in the development of new, energy-efficient LED lighting solutions to significantly accelerate the adoption of LED technologies in the marketplace.
ATLANTA & SEOUL, Korea--(BUSINESS WIRE)--Acuity Brands, Inc. (NYSE: AYI) and Samsung LED Co. Ltd today announced they have agreed to collaborate in the development of leading products utilizing light-emitting diode (LED) technology that will establish a new standard for performance in solid-state lighting systems.
“The opportunity for highly energy-efficient lighting solutions utilizing LEDs and lighting controls continues to expand due to demand for sustainable solutions, the growing need to reduce energy and maintenance costs, and regulatory drivers requiring the use of more efficient lighting and controls solutions”
Acuity Brands, a recognized leader in innovative, technologically-advanced lighting products and solutions, and Samsung LED, a global leader in LED technology, will collaborate in the development of new, energy-efficient LED lighting solutions to significantly accelerate the adoption of LED technologies in the marketplace. This collaboration will complement both companies’ strategies and capabilities in the development of their mutual LED product portfolios.
“The opportunity for highly energy-efficient lighting solutions utilizing LEDs and lighting controls continues to expand due to demand for sustainable solutions, the growing need to reduce energy and maintenance costs, and regulatory drivers requiring the use of more efficient lighting and controls solutions,” said Vernon J. Nagel, Chairman, President and Chief Executive Officer. “Our collaboration with Samsung LED underscores our commitment to sustainable lighting solutions that deliver the benefits of solid-state technology with a focus on lighting quality for a superior visual environment.”
“Samsung LED is excited to collaborate with Acuity Brands to lead the transformation from analog to digital lighting. With this transformation, the convergence of new products and solutions through LED innovation becomes possible,” said Jea Wook Kim, President and CEO of Samsung LED. “LED technology will bring ever increasing value not only through lighting but additional features and benefits only made possible by intelligent digital devices.”
About Acuity Brands:
Acuity Brands, Inc., the parent company of Acuity Brands Lighting, Inc. and other subsidiaries, is one of the world's leading providers of lighting fixtures and related products and services with fiscal year 2009 net sales of over $1.6 billion. The Company’s brands include Lithonia Lighting®, Holophane®, Peerless®, Mark Architectural Lighting™, Hydrel®, American Electric Lighting®, Gotham®, Carandini®, RELOC®, MetalOptics®, Antique Street Lamps™, Tersen™, Synergy® Lighting Controls, Sensor Switch® , Lighting Control & Design™, and ROAM®. Headquartered in Atlanta, Georgia, Acuity Brands employs approximately 6,000 associates and has operations throughout North America and in Europe and Asia.
About Samsung LED:
Samsung LED Co. Ltd., established in April 2009 to foster LED as a new growth engine for the next generation, is leading the global LED industry with cutting edge products based on the synergy of more than ten years of LED technology development and world class semiconductor technology and manufacturing.
Samsung LED is the leader in the Display BLU (LED backlight unit) market and plans to further expand research and development in Lighting and Automotive applications. Samsung LED’s main operation is based in Suwon, Korea and has core manufacturing bases in Korea and in China. Global Sales offices are located in the U.S., Europe, Japan, China and South East Asia.
Forward-Looking Statements
This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that may be considered forward-looking include statements incorporating terms such as “expects,” “believes,” “intends,” “anticipates,” “may,” “should”, and similar terms that relate to future events, performance, or results of Acuity Brands, Inc. (the “Company”) and specifically include statements made in this press release regarding the collaboration in the development of LED lighting solutions to establish a new standard of performance in solid-state lighting systems and to significantly accelerate the adoption of LED technologies in the marketplace. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and management's present expectations or projections. These risks and uncertainties include, but are not limited to, customer and supplier relationships and prices; competition; ability to realize anticipated benefits from initiatives taken and timing of benefits; market demand; litigation and other contingent liabilities; and economic, political, governmental, and technological factors affecting the Company. Please see the other risk factors more fully described in the Company’s SEC filings including the Company’s Annual Report on Form 10-K for the fiscal year ended August 31, 2009. The discussion of those risks is specifically incorporated herein by reference. Management believes these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations. Further, forward-looking statements speak only as of the date they are made, and management undertakes no obligation to update publicly any of them in light of new information or future events.
