October 26, 2024
5 Things to Know: October 26
LightFair adds 40 exhibitors. Plus, the U.S. Department of Commerce considers Lutron’s tariff request.
Here's a roundup of some of the week's happenings curated to help lighting people stay informed.
1. Current Gains a New Sister Company
Lighting and controls company Current, acquired by private equity firm American Industrial Partners (AIP) in 2019, will soon have a new sister company within AIP’s portfolio as the firm moves to acquire PPG's architectural coatings business for the U.S. and Canadian markets. This acquisition, expected to close in late 2024 or early 2025, will bring a range of well-known paint brands—such as Glidden, Pittsburgh Paints, and Olympic—under AIP’s management. The addition complements AIP’s investment in Current and other brands, strengthening its presence across the building products industry.
With this acquisition, AIP adds PPG’s architectural division, which generated $2 billion in 2023, to its diverse industrial portfolio. The division serves both professional and DIY markets through 750 retail stores and dealer relationships, employing over 6,000 people across North America.
2 . Lutron Seeks Partial Tariff Exemption for Solar Components
The U.S. Department of Commerce is reviewing a request from Lutron Electronics Co., Inc. to partially revoke existing tariffs on certain solar products imported from China. Lutron seeks an exemption from antidumping and countervailing duties on low-wattage, off-grid crystalline silicon photovoltaic (CSPV) cells. These specific cells, when attached to aluminum extrusions, are integral to devices controlling natural light.
The American Alliance for Solar Manufacturing, a key industry stakeholder, has expressed no objection to Lutron’s proposal. If the partial revocation moves forward, it could reduce costs for Lutron’s solar- and daylight-related lighting products that meet the specific criteria, providing relief from tariffs currently affecting these imports. Commerce will publish preliminary results for further input before finalizing any changes to the duty orders.
3. LightFair Adds 40 Exhibitors
LightFair 2025, scheduled for Cinco de Mayo week in Las Vegas, has an increase in exhibitors, adding approximately 40 companies to its lineup over the past ten weeks. The expanded roster brings the total exhibitor count to 168 according to the most recent tally.
The 40 exhibitors added to the list since August 5 are:
- American Best Buy Agency
- AOK INDUSTRIAL COMPANY LIMITED
- BIOS
- Dabmar Lighting
- DMUSEUM Inc.
- ENOCEAN INC
- EPC Product LLC
- ETC
- Etherium Lighting LLC
- Guangdong DONE Power TECHNOLOGY
- Hapco
- HLINEAR s.r.o.
- HYLELE INC.
- I-BRIGHT
- IR-TEC America, Inc.
- Kinglumi Co., Ltd.
- LEDLINK OPTICS, INC.
- LIGHTBOARD TECHNOLOGIES
- Lightwolf GmbH
- LIRON LIGHTING
- LUXRITE
- Luxsun Technology Company Limited
- Mechanical Ingenuity Corp. (MIC)
- MOSO POWER SUPPLY TECHNOLOGY CO., LTD.
- NexusLED Green Technology Sdn Bhd
- NICOLAUDIE AMERICA, INC.
- NuGen Outdoor Enterprises, LLC
- Olympia Lighting Co., Ltd.
- OVERDRIVE LIGHTING
- PHAROS ARCHITECTURAL CONTROLS
- POWERLAND TECH, INC
- Shenzhen Betop Electronics Co.,Ltd.
- Shenzhen Coolight Opt-Ele Co., Ltd
- SHENZHEN HELIAN ELECTRONICS CO., LTD
- Shenzhen Nexol Lighting Technology Co., Ltd.
- STANDARD-TECH
- TRC ELECTRONICS, INC.
- Tuya Global Inc.
- Valriya Lighting
- Zhuhai Shengchang Electronics
4. Updated U.S. Manufacturing Project Tracker Highlights Billions in Investment
Construction Dive has just released an updated map and project list spotlighting the largest construction projects in the U.S. manufacturing sector, reflecting a significant uptick in activity since the CHIPS and Science Act was signed into law in August 2022. This wave of investment has propelled the U.S. forward in global manufacturing competitiveness, with over $988 billion invested by private companies in areas such as semiconductor fabrication, electric vehicle battery production, biotechnology, and clean energy.
The tracker categorizes projects by value and location, providing insight into the contractors involved when available. Regular updates to the list aim to document the ongoing surge in manufacturing growth across the country, driven by large-scale projects from chip plants to consumer goods production facilities.
5. Signify CFO no longer “Interim CFO”
Signify has confirmed the appointment of Zeljko Kosanovic as Chief Financial Officer (CFO), with effect from October 25, 2024. The Supervisory Board will propose Mr. Kosanovic’s appointment to Signify’s Board of Management at the Annual General Meeting of Shareholders to be held in 2025.
The CFO role was previously held by Javier van Engelen who departed the company in April 2024.
“In the role of acting CFO, Mr. Kosanovic has consistently demonstrated the financial and leadership competencies required for this position,” said Gerard van de Aast, Chair of the Supervisory Board of Signify. “We are pleased to confirm this appointment, and look forward to continue working with him in the future.”
