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OSRAM ACQUIRES GTE'S NORTH AMERICAN LIGHTING BUSINESS; NEW COMPANY SELECTS NAME, AND ANNOUNCES MANAGEMENT TEAM AND HEADQUARTERS LOCATION

 NEW YORK, Jan. 29 /PRNewswire/ -- OSRAM GmbH announced today that it had completed the purchase of GTE's North American lighting business. In August 1992, OSRAM and GTE had announced that they had signed a definitive agreement concerning the sale.
 After the final papers were signed here today, Dr. Wolf-Dieter Bopst, president and chief executive officer of OSRAM GmbH, a global lighting company headquartered in Munich, Germany, said the combined company in North America will adopt the name OSRAM Sylvania Inc.
 "This is an historic event for the lighting industry, for OSRAM, and for Sylvania," Bopst said. "OSRAM Sylvania is clearly positioned as the leading innovative lighting company in North America. By combining the strengths of OSRAM and Sylvania, our global lighting and precision materials businesses will be even more competitive in terms of technical innovation, quality, cost, and new products."
 Dean T. Langford, formerly president of the GTE Electrical Products Group, has been named president of OSRAM Sylvania Inc. Headquarters for the new company will be in Danvers, Mass.
 Bopst also announced the members of the new company's executive committee, which will operate the business day-to-day. They are Langford; Dr. Wilfried Backes, executive vice president and chief financial officer; Henny A. Peters, executive vice president - marketing and sales; and Vincent A. St. Onge, executive vice president - precision materials and components.
 OSRAM Sylvania consists of GTE's former lighting and related precision materials and components businesses in the United States, Canada and Puerto Rico, and of OSRAM's former businesses in the United States and Canada. In a separate transaction, GTE sold its International Lighting business to a group of investors advised by Citicorp Venture Capital, London.
 OSRAM Sylvania, with sales of approximately $1.3 billion, operates 30 manufacturing plants and employs about 13,000 people. The acquisition increases OSRAM's total worldwide sales by 70 percent to approximately $3.3 billion and boosts OSRAM's worldwide employment to 29,000.
 According to Bopst, "By combining the strengths of OSRAM and Sylvania, we will create an efficient and dynamic worldwide company that will assume a leading role in the global lighting industry. We will prove that when two industry giants combine their talents, they become even stronger."
 "The Sylvania brand name is being retained and will be used to identify most of the company's lighting products sold in North America," Langford said. "The Sylvania names enjoys years of brand equity in North America. It has strong consumer recognition and it is highly respected by the industrial, commercial and OEM customers we serve," he continued.
 "A great deal of work needs to be done to integrate OSRAM's and Sylvania's former North American operations," Bopst added. "But we're ready for the challenge. Our primary objective is to make sure that our customers experience no disruptions. As changes are made, we will communicate them clearly and in a timely manner."
 Another important objective, Langford said, "is to continuously improve the quality of our products, services and processes, and to do this we will have to rely on our employees, the greatest resource we have. We will provide an environment where each person can contribute to this new beginning and realize the benefits through opportunities for growth."
 "This acquisition enhances our global lighting business, helping us to achieve world-class capabilities in research and development, manufacturing and marketing," Bopst said. "We are committed to assuming the leading role in global lighting through technical innovation, quality and cost leadership and the best service in the industry."
 OSRAM is part of the Siemens family of companies. Siemens is an international electrical and electronics company, also headquartered in Munich, with sales of DM 78.5 billion in FY 1992 and about 413,000 employees worldwide as of the end of fiscal 1992. In the United States, Siemens had fiscal 1992 sales of $4.9 billion and 35,000 employees.
 -0- 1/29/93
 /NOTE TO EDITORS: A photo of company president Dean T. Langford accompanies this story and is moving on INS Photolink Network/
 /CONTACT: Richard H. Dowhan of OSRAM Sylvania, 508-750-2225, or after 6 p.m., 603-964-5756; or Maria Kibby of Siemens, 212-258-4000, or after 7 p.m., 203-438-6903/


CO: OSRAM GmbH; GTE ST: New York, Massachusetts IN: HOU SU: TNM

GK-OS -- NY024 -- 0869 01/29/93 15:38 EST
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Date:Jan 29, 1993
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