Osram to invest 3 billion euros for growth by 2020

November 10, 2015 5:15 PM

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MUNICH, GermanyGerman lighting company Osram intends to invest about 3 billion euros ($3.21 billion)by 2020 as it switches its focus to growth after years of savings, it said on Tuesday.

Osram will spend about a billion euros to build a new LED (light-emitting diode) chip factory in Malaysia, and raise its annual research and development spending by about 40 million euros to a total of 2 billion euros by 2020.

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