North West | Energy, utilities | Technology & innovation
Inter RAO UES buys control in Svetlana-Optoelectronics
22 Sep '11
Energy operator Inter RAO UES’ subsidiary Inter RAO Light Diode Systems has received control stake in St. Petersburg light diode manufacturer Svetlana-Optoelectronics, NanoNewsNet reports.
Earlier Svetlana-Optoelectronics had been negotiating partnership with RUSNANO state corporation for over two years, but failed to reach agreement on the deal. Experts believe that Svetlana-Optoelectronics has selected the right partner – Inter RAO, being the electrical energy producer and supplier, will be able to help the light diode products manufacturer to expand the sales market.
According to Aleksey Mokhnatkin, the director general of Svetlana-Optoelectronics, Inter RAO Light Diode Systems became the majority shareholder in the St. Petersburg firm in July 2011. The shares were reportedly sold by the company’s managers. According to Aleksey Mokhnatkin, the mother company Svetlana still holds a large stake in Svetlana-Optoelectronics.
Svetlana-Optoelectronics has recently completed the first stage of the investment project to expand its light diodes production facilities, bringing production capacity to 3.5 million one-watt ultra-bright white light diodes per month. Investment into the project has come in at $25.5m.
“The second stage of the project is scheduled for late 2012, and it is aimed at increasing monthly production capacity to 10 million one-watt light diodes. The project will only be carried out when we believe that the market is able to consume our current output,” Aleksey Mokhnatkin added.
Earlier the company estimated investment into the project at $80m. In September the firm started selling light diode lamps under the SvetaLED brand, produced on the basis of SvetLED light diodes.
Svetlana-Optoelectronics has replaced lights at over 80 rail facilities, operated by the Russian Railways; as well as energy facilities of such companies, as TGC-1, Sevkavenergostroy; commercial and special facilities, such as petrol stations, trolley bus parks, facilities of the RF Ministry of Defense; public buildings in St. Petersburg, Moscow, Voronezh, Yakutia and others.