Siemens Semiconductor's vision of light at the end of the tunnel has taken on new meaning - Siemens is to merge its lightbulb subsidiary, Osram GmbH, into the semi business to form a joint venture in optoelectronic semiconductors. Aside from being one of the world's top manufacturers of lights and lightbulbs Osram has expertise in LED technology, and this will be an important part of the new ventrure. The new operation will be called Osram Opto Semiconductors. Siemens Semiconductor itself has been a major loss-maker for Siemens because of the collapse of the DRAM market. The company is however now making optimistic noises about the division's future, and these are likely to be connected to plans to float it off in 2000. ®