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For the press
WE ARE ENTERING THE ARGENTINIAN MARKET
For the press

We are entering the Argentinian market

LUG will open a production facility in Argentina and supply lighting solutions for the Misiones Province.

Our company has signed an agreement to open a production facility in Argentina and supply 21 mln euros worth of luminaires to the Misiones Province.

On 11 October 2016, our management signed a contract with the local Government of the Misiones Province in Argentina. On the basis of the agreement, we will open a production facility in Argentina where LUG luminaires will be manufactured for the needs of illuminating the urban areas of the Misiones Province.

After Brazil, the time has come to establish our presence in Argentina. Brazil was always going to be only the beginning of our expansion in South America so this agreement is the effect of our development strategy. We will be the first company to introduce LED technology to the Misiones Province and together with the local authorities, we are going to increase the level of technological advancement of lighting in the Province.

- President of Board, Ryszard Wtorkowski, said.

The parties of the agreement are committed to establishing a strong relationship what is reflected by a mutual exclusivity for manufacturing, assembly and development of LED technology in the Misiones Province. Construction of our company’s manufacturing facility will take about 15 months. We will supply the first part of the order for the Misiones Province 3 months after the facility is launched.

The cooperation with our Argentinian partner will continue for at least three years. The first stage of the agreement will include supplies of luminaires worth 5.6 mln euros. After this stage is successfully carried out, the Misiones Province’s local Government will place another order for luminaires worth 15 mln euros. This sets the total value of supplies within the agreement at about 21 mln euros.

The agreement will be carried out by LUG Argentina, which is going to be established on the basis of cooperation with our Argentinian partner. The process of registering the new company is currently in progress.

Carrying out this agreement will take up a significant ammount of time, just like other lighting supply projects in our segment. However, this period of time will be a great opportunity to explore our business possibilities in this market. We will use it to further expand our operations in Argentina and South America in general.

- President of Board, Ryszard Wtorkowski, added.

LUG Light Factory is a leading European manufacturer of lighting luminaries with 25 years of experience. The company operates in the professional lighting sector, specializing in the production of professional lighting solutions for indoor and outdoor illumination of public utility buildings as well as industrial and architectural objects.