GE Lighting has opened a new manufacturing operation in Longmont, Colorado. GE Lighting had earlier acquired Albeo Technologies which was based in Boulder. However, as the company has since outgrown its operations in Boulder it has now moved to Longmont.
The new manufacturing space is 174,000 square feet or five times larger than the space it had in Boulder. The company has expanded its ability to test, manufacture and design industrial LED fixtures. These fixtures are being distributed worldwide to warehouses, arenas, retail locations, etc. Volume of Albeo products had increased significantly prior to it being integrated into GE.
There is a great deal of optimism among company officials. Said a co-founder of Albeo: “I’m so proud of the work this team has done to position GE Lighting for deeper growth, all the while adding to our local base of employees and impacting the communities we call home here in Colorado.” The global supply chain manager for GE Lighting said that the addition of Albeo was impactful upon profitability, product portfolio for GE along with bringing in more commercial customers.
It must be kept in mind that mergers and acquisitions of other companies can be extremely legally complex. Therefore it can be vital to have the advice of an attorney who understands this area of law. Because of the large number of considerations that need to be made both before and after an acquisition or merger takes place, the need for an attorney with knowledge of business and commercial transactions is heightened. These attorneys can prepare paperwork and consult on every business plan.
If handled correctly, a merger or acquisition can result in business expansion and increases in revenue. Such acquisitions also add dollars to local economies with the hiring of additional employees.
Source: Boulder County Business Report, “GE Lighting celebrates digs in Longmont,” Doug Storum, Feb. 18, 2014