Apr 8 2014
Revolution Lighting Technologies, Inc. (“Revolution Lighting”), a leader in advanced LED lighting solutions, today announced it has signed master distribution agreements to expand the Company’s international footprint and drive penetration in key European and South American markets.
Andy Silverman, a seasoned entrepreneur with nearly 30 years of experience in developing distribution channels for technology companies across 45 countries, will lead Revolution Lighting’s sales and distribution in key European markets, including Germany, Benelux, Scandinavia and Iceland. Mr. Silverman is the founder of DataQ and built the company into a $60 million per year international independent distributor of IT equipment.
Manual Niikado will lead Revolution Lighting’s South American business and will focus on increasing the Company’s distribution and sales in key South American markets, including Argentina, Chile, Uruguay and Brazil. Mr. Niikado previously served as commercial director for NEC Latin America and brings 25 years of experience in the IT and Telecommunications industries to Revolution Lighting.
“Revolution Lighting is pleased to collaborate with these experienced and savvy executives as we expand our presence and distribution in Europe and South America,” said Charlie Schafer, President and Chief Financial Officer, Revolution Lighting Technologies. “We see significant opportunity for our LED lighting solutions in these markets as governments enact legislation to increase energy efficiency by banning inefficient light bulbs. We are well-positioned to capture international market share as the financial return on LED investments continues to be realized in commercial, industrial and municipal markets across the world.”
Schafer concluded: “With our organic growth, our expansion into Europe and South America, and our recently announced acquisition of Value Lighting, we expect significant growth for Revolution Lighting in the second half of 2014 and beyond.”
According to McKinsey & Company, LED market share in Europe is anticipated to rise to over 45 percent by 2016 and more than 70 percent by 2020 as a result of reduced LED prices and the European Commission’s regulation on banning low-voltage halogen lamps by 2016.
LED adoption in South America continues to increase as well due to government regulations that phase out inefficient light bulbs. In Argentina, selling and importing incandescent light bulbs has been forbidden since December 2012, and in Brazil, light bulbs must meet stringent efficiency targets in order to be produced, imported and sold.
Source: http://www.rvlti.com/