General Electric Co. (GE), Fairfield, Conn., agreed to buy a $20.55 million stake in Advanced Lighting Technologies, Inc., Cleveland, Ohio. The purchase, combined with a stake GE bought when Advanced Lighting went public in December 1995, gives GE 19% ownership of the company.
Advanced Lighting's relationship with GE Lighting dates back to 1983 when Hellman left GE to start Advanced Lighting. GE provided Hellman with his first five-year contract to supply key materials in metal-halide lamps. GE has continued over the years to be an important supplier and customer of Advanced Lighting.