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Osram plans to finish LSS turnaround, then may consider options
May 3, 2017 / 12:34 PM / 7 months ago

Osram plans to finish LSS turnaround, then may consider options

FRANKFURT, May 3 (Reuters) - German lighting group Osram wants to finish restructuring its LSS lighting-services unit before considering further options for the business, its chief executive told analysts on Wednesday.

“I think we create more value if we lead the turnaround and then we are thinking about the strategic options,” Olaf Berlien said when asked on a call whether Osram was the right owner for the business.

LSS has a target to reach 8 percent profitability but may only achieve breakeven next year instead of this fiscal year to end-September as planned, due to weakness in the United States, executives said earlier. (Reporting by Georgina Prodhan; Editing by Edward Taylor)

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