U.S. sells more U.K. lamp to China – Bloomberg
LONDON – May 31 (Reuters) – British home goods maker U.N. Home Goods, which makes lamps and fixtures for sale in Europe, Asia and the Middle East, said on Wednesday it sold more than 20 million lamps last year and expects to make further sales in the coming years.
The U.T. Lamp Company Ltd.
said in a statement that its domestic demand for lamps and light fixtures is expected to be over 50 million units this year and that it expects annual sales of over 10 million units for the current fiscal year, which ends in July.
The company has been expanding in the Middle Eastern and Asian markets with products in markets including Malaysia, Turkey, Indonesia, and the Philippines.
U.N.-backed Qatar, the world’s largest oil exporter, also has ambitious plans to diversify its energy portfolio to meet the needs of its population, including by developing a liquefied natural gas (LNG) industry.
In April, the Qatar Petroleum Investment Company announced it had agreed to buy LNG producer Saudi Aramco for a total of $2.2 billion.
Upholding domestic demand will be a key driver for the LNG industry as it grows and can help to address the global glut of energy that has put a crimp in global oil prices.
(Reporting by Rafiqul Islam; Writing by Daniel Flynn; Editing by Paul Tait)