Signify buys 51% of Chinese LED lamp maker

In an effort to cut manufacturing costs, gain control of supply, and protect intellectual property, Signify is acquiring 51% of a Chinese LED lamp and luminaire provider, while announcing another quarter of slowing sales but rising profits amid ongoing restructuring. The world’s largest lighting company did not reveal how much it paid for the stake in privately held Zhejiang Klite Lighting Holdings Co., Ltd., a company which sells private label and OEM goods to companies mostly outside of China.