Osram, the lighting division of Siemens, Germany, was approved by the European Commission on November 12 and agreed to set up a joint venture in China to produce energy-saving light bulbs.
Osram said in September that it plans to set up a joint venture with Chinese entrepreneur Tony Yim to produce energy-efficient light bulbs for the Asian and Latin American markets. The new company is called Sunny World and Osram will hold an 80% stake.
Earlier, Osram had strongly advocated that the EU imposed anti-dumping duties on Chinese-made energy-saving lamps and eventually succeeded.
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