Philips to sell Contract Manufacturing Services France SAS (CMS) to Groupe Attel
Friday, February 24, 2006, Amsterdam, The Netherlands and Paris, France – Royal Philips Electronics (NYSE:PHG, AEX:PHI) and Groupe Attel, a manufacturer of high-frequency wireless telecommunications applications, today announced the completion of the sale of Philips-owned Contract Manufacturing Services France SAS (CMS) to Groupe Attel of France. Financial details of this transaction were not disclosed. The deal closed in January 2006.
CMS is a manufacturer of high-frequency niche telecommunications applications, and is part of Philips Corporate Investments, which is within Philips’ Other Activities business segment. CMS employs approximately 80 people in Louviers, France, who will transfer to Groupe Attel. Groupe Attel makes up part of Group Mazarin – a Paris-based telecoms holding company.
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world’s biggest electronics companies and Europe’s largest, with sales of EUR 30.4 billion in 2005. With activities in the three interlocking domains of healthcare, lifestyle and technology and 159,200 employees in more than 60 countries, it has market leadership positions in medical diagnostic imaging and patient monitoring, color television sets, electric shavers, lighting and silicon system solutions. News from Philips is located at www.philips.com/newscenter
About Groupe Attel
Groupe ATTEL, French group based in Paris, proposes offers and services in the manufacturing and the management of high value added products in technologies such as RF (WiFi, Bluetooth, RFID), wireless, GPS, GPRS, biometrie, TVHD. With its 3 subsidiaries, Attel industry, Attel telecom and Attel international, Groupe Attel represents 180 employees and €30 millions of turnover and is present in France, Southern Europe and Africa. More information on www.attel.fr.
This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
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- Philips Corporate Communications
- Royal Philips Electronics
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