Saudi firm General Lighting Company to acquire Malaysian lighting fixture maker
News from CPI Financial:

Eng. Abdullah Al-Hobayb, Chairman of GLC, said, “This is an important step in GLC’s strategy to target the world’s fastest growing economies. Davex brings several attractive markets to the GLC family including Vietnam, Indonesia, Singapore, Malaysia and Australia.”

Eng. Fahad Al-Hobayb, CEO of GLC, said, “The acquisition of Davex comes as a perfect complement to GLC’s product offering, fitting with the requirements of our core Middle East and Africa markets. Also, a number of opportunities exist to extract synergies from the combination of our two organizations.”

GLC’s investment in Davex underlines the company’s commitment of growing into one of the largest lighting fixtures manufacturers in developing markets. In addition to its operations in Egypt and the UAE, GLC has recently established offices in Morocco (2011), and South Africa (2012). GLC offers its products to nine countries in the Middle East and 13 countries in Africa.

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