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Osram Ready for Spinoff

Osram, the lighting unit of Siemens AG (SIE), said it’s optimistic that a spinoff planned next year will work after abandoning plans for an initial public offering. “Osram is well-prepared,” Klaus Patzak, the company’s chief financial officer, said at a conference today in Dusseldorf, Germany. “After the spinoff, and the funds we will then have available, this will soon show.” Osram is grappling with what it calls a technological revolution as light-emitting diodes replace conventional bulbs, bringing in new rivals to companies from Siemens to Royal Philips Electronics NV and General Electric Co.

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