VIENNA, June 25 Austrian lighting firm Zumtobel
is to withdraw from the magnetics sector at the end of
2013 because of incoming European Union restrictions on
inefficient magnetic technology.
Zumtobel said it would close a production site in the
Austrian province of Styria, which employs 102 people, and was
in intensive discussions with a potential investor in its other
magnetics site - in Melbourne, Australia - which employs 49.
The company's revenues from the sale of magnetic ballasts
fell 60 percent last year to 35 million euros ($46 million).
Zumtobel said on Tuesday the move would allow its Tridonic brand
to focus more strongly on LED technology.
($1 = 0.7637 euros)
(Reporting by Georgina Prodhan; Editing by Michael Shields)