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Last updated on April 19, 2014 at 9:20 EDT

Greenlux Finland Ltd Enters Into Agreement With Fagerhult on Sale of LED Luminaries

November 15, 2011

HELSINKI, November 15, 2011 /PRNewswire/ –

Greenlux Finland Ltd, a Finnish lighting design firm and producer of LED
luminaries, has entered into an agreement with AB Fagerhult, the largest
company in the lighting industry in the Nordic Countries, with operations in
17 countries. Greenlux will deliver LED luminaries suitable for general
lighting to Fagerhult for marketing and sale under the Fagerhult brand name.

Collaboration with Fagerhult provides access to a large number of new
markets and an existing customer base for Greenlux luminaries. As a
respected and veteran concern in the industry, Fagerhult can meet the demand
for more energy efficient lighting for car parks, warehouses and cold
storage facilities, for which LED lights have not previously been among its
own models. The first targets for collaboration will include large-scale
projects in which the number of units in a single sale, when completed, will
be larger than the total number of units produced by Greenlux in three
years.

“Our company has exceptional sites as references in realising general
lighting with our LED luminaries, but the acceptance of our products among
Fagerhult’s models removes the last vestiges of doubt about their
functionality and reliability. When we take into account Fagerhult’s
existing organisation, we can see that the agreement fulfils nearly all our
goals for rapid international growth,” says Roope Ropponen, Sales and
Marketing Director at Greenlux Finland Ltd.

“Using our own sales organisation, we will achieve about 200% growth in
turnover this year, and the belief in at least the same measure of continued
rapid growth next year is strong, particularly when our collaboration with
Fagerhult really gets underway,” Ropponen is pleased to say.

Background:

Greenlux Finland Ltd is a company established in 2007 whose turnover in
2010 was approx. 600,000 Euros. In 2011, turnover will increase to nearly 2
million Euros through the contributions of only eight employees, who are
also all Greenlux stockholders.

Greenlux has delivered more that 10,000 units of its GLG series
luminaries for car parks and industrial sites such as warehouses and
maintenance and logistics hangars. Greenlux holds the leading market
position in car park LED lighting in Sweden. The first site was already
completed at the beginning of 2009 at Arlanda Airport. At the beginning of
2011, Greenlux LED products were also used to light Sponda’s new office
building in City-Center in Helsinki, Scandinavia’s largest open-office
space, which has been leased to Evli Bank. The interior of the building was
lit with GLP series LED panel luminaries. Greenlux has also implemented
large-scale renovations for Fortum, IBM, Swedbank, Stockholm Parkering,
Malmo Parkering, Skapat Energy, MTV3 and the Stockholm Central Railway
Station. Greenlux also operates in collaboration with, among others
Swedavia, Outotec and Kone to develop more energy efficient LED lighting
solutions.

Greenlux Finland’s office is located in Helsinki and the luminaries it
delivers to Fagerhult are produced in Somero, Finland.

The Fagerhult concern, established in 1945, is the largest lighting
industry concern in the Nordic Countries and among the largest in Europe,
with a turnover of more than 2,500 million SEK (just under 300 million
Euros) and about 2,000 employees.

Additional information:

http://www.greenlux.fi and http://www.fagerhultgroup.com

Pictures for free use: http://www.greenlux.fi/press-images.html

SOURCE Greenlux Finland Ltd.


Source: PR Newswire