Swarovski Lighting announces purchase agreement with WAC Lighting

PLATTSBURGH | Swarovski Lighting has announced a new purchase agreement with WAC Lighting-a leading U.S. lighting manufacturer- and local officials are applauding what it means for the future of the Plattsburgh manufacturer. Swarovski Lighting has entered into an agreement to sell all operating assets related to the Schonbek brand to W Schonbek LLC, a new, wholly-owned subsidiary of WAC Lighting. WAC will now own and operate the Schonbek brand of luxury crystal lighting, including the Plattsburgh manufacturing plant, which will remain in operation. Completion of the transaction is subject to various closing conditions, but is expected by June 30. Customers will be served without interruption during the transition. WAC is a leading manufacturer of LED architectural, task and decorative lighting, as well as smart ceiling fans and officials said the expansion will greatly boost its domestic manufacturing capabilities to include fabrication, finishing and assembly. The Plattsburgh plant will focus on made-to-order and custom products for all of the brands, including Modern Forms, dweLED, WAC Lighting, LIMITED and AiSPiRE, and will also play a strategic role in designing new products and developing new luxury finishes for all brands. The North Country Chamber of Commerce welcomed the announcement April 19, saying it will bring a strong set of synergies in the global world of lighting fixtures. "It has been our pleasure to work with WAC Lighting leaders since early February as the acquisition was considered," Chamber President Garry Douglas said in announcing the agreement. "Among other things, we directly worked with the State of New York including the Governor's office to help secure important assistance and to facilitate connections. The outcome involves a strong set of synergies between WAC, a global leader in LED technology, and Schonbek which has a special and long-standing place in the lighting fixture world." Douglas said "The Schonbek operation is an important manufacturer in the North Country, and we will continue to offer all of the assistance we can to WAC Lighting over the next few months and then for many years to come." Assemblyman Billy Jones also applauded the Port Washington-based company's local acquisition and congratulated both companies on a successful sale. He said he was "pleased to hear that this deal will not impact operations at the Plattsburgh plant or current customers." "As we continue to rebuild from this devastating pandemic, I'll keep doing everything I can in the Legislature to create good-paying jobs in the North Country and support our region's economic recovery."

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Swarovski Lighting announces purchase agreement with WAC Lighting

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