Osram, one of the world's leading lighting manufacturers, continues to make progress with the carve-out of its general lighting lamps business. After the supervisory board of OSRAM Licht AG approved the carve-out of the unit in June 2015, the name of the new company has now also been decided. “We have opted for a combination of the terms ‘LED’ and ‘advance’ and will call the newly established company LEDVANCE,” said Olaf Berlien, Chief Executive Officer of OSRAM Licht AG. “The name reflects the trend toward LED in the lighting market as well as the opportunities arising from this development – opportunities LEDVANCE will actively exploit.”