New technology company in LUG Capital Group

LUG S.A., the leading European manufacturer of professional lighting solutions and Toka Burzyński Guzowski Sp. j., formed a new entity strengthening the potential of the LUG group in the field of development of new lighting technologies. The partnership will allow for faster development and realization of strategic assumptions of the Capital Group.

The document was signed on 9^th September in Zielona Góra. The result of the agreement is the creation of a new technology company named BIOT Sp. z o.o. based in Zielona Góra. The new entity is a subsidiary of LUG, 51% of shares in the new company will include LUG S.A., and the remaining 49% Toka Burzyński Guzowski Sp. j. The Company was established to supplement the portfolio of services of the LUG Capital Group. The main area of ​​activity of the new entity will be research and stimulation of developments in the field of new lighting technologies. The cooperation between the two shareholders will allow them to make full use of their potential: know how owned by Toka Burzyński Guzowski Sp. j. and capital and market for the commercialization of future technologies provided by LUG S.A.  Position of the President of the Management Board of BIOT Sp. with o.o. Kamil Burzyński from Toka Burzyński Guzowski will take over, while Wojciech Lewandowski will be the Vice President of the Board, representing LUG S.A.

- Joint venture is the next step to make the strategic development of the LUG Capital Group determined in June. Our goal is to provide world-class solutions in the area of ​​light management. I count on the activities of BIOT Sp. z o.o. which will be concentrated around the searching for synergies of lighting and the latest technology, which will allow us to fully exploit the potential of both LUG and Toka - Ryszard Wtorkowski, CEO of LUG S.A.