Halonix has inked an agreement for re-structuring operations of the company. The company and its subsidiary Halonix Technologies have signed a business transfer agreement (BTA) for sale and transfer of the General Lightening Business. Besides, a share purchase agreement (SPA) has been entered into with Argon South Asia and Argon India for sale and transfer of Halonix Technologies.
Further, the completion of the transactions is subject to conditions and is expected to take place over the next fortnight or so. It is intended that the General Lighting Business will be transferred to Halonix Technologies prior to the sale and transfer of Halonix Technologies.
Halonix, previously known a Phoenix Lamps, was promoted in the year 1991 as an Indo- Japanese joint venture. It is counted amongst the most preferred manufacturers and suppliers of compact fluorescent lamps for general lighting and halogen lamps for automotive.
