Under the investment agreement, Philips will acquire a 51% stake in General Lighting from a joint group.
The joint venture will provide LED products, systems and services to the entire lighting market, as well as specializing in the production and distribution of LED lighting fixtures. It is expected that the joint venture will employ 1,300 people, which will further promote regional economic development and help Saudi Arabia achieve its vision of strengthening local manufacturing.
The joint venture will provide a full range of LED lighting solutions and will strengthen General Lighting's position in the Saudi market. General Lighting will achieve market growth with sustainable technologies in line with the Saudi government's energy efficiency goals. At the same time, with the help of Philips' LED expertise and global supply chain advantages, General Lighting will continue to increase its market expansion capabilities.
Driven by large-scale construction markets, government and private energy-efficient lighting projects, the Saudi lighting market is expected to grow steadily during 2014-2018.
Eric Rondolat, CEO of Philips Lighting, said: "With the cooperation of General Lighting, Philips' business in Saudi Arabia will grow rapidly. Driven by public-private infrastructure, we expect local LED usage to reach double-digit in 2018. increase."
Hookah also known as waterpipe, narghile, argileh, shisha, hubble-bubble, goza, borry, qaylan, chica, and mada'a (Fig. 1) is a tobacco pipe with a long yet flexible tube that draws the smoke through water contained in a bowl.
A hookah is a type of water pipe that was crafted to be used for smoking shisha tobacco. Hot charcoal is used to heat the tobacco in the bowl
A hookahis a single- or multi-stemmed instrument for heating or vaporizing and then smoking either tobacco, flavored tobacco (often muʽassel), or sometimes cannabis, hashish, and opium.[3] The smoke is passed through a water basin-often glass-based-before inhalation
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