28 March 2008 – Philips Electronics NV has confirmed it will build a new plant in Lesotho. The plant will be capable of producing 15 million compact fluorescent lamps annually and will be jointly owned by the government of South Africa, Karebo Systems Ltd and Philips.
Philips will have a 40% shareholding in the plant, with the other two investors taking 30% each.
The South African government has said it wants to replace 80% of all incandescent lamps with compact fluorescent alternatives within eight years.
"However, Philips expects to reduce this timeframe to approximately three years with the establishment of the Lesotho production facility," a company statement said.
Production is expected to start in September and there are plans to expand the facility in order to produce other lighting components and recycle bulbs.