Philips bestows first ever ’Partners for Growth’ Global Supplier Awards
Tuesday, March 21, 2006, Eindhoven, The Netherlands - Royal Philips Electronics (NYSE:PHG, AEX:PHI) today presented the first ever Philips ’Partners for Growth’ Global Supplier Awards.
The Awards are a key element of Philips ’Partners for Growth’ supplier relationship management program, which was launched in 2004. The program aims to develop closer, stronger relationships with key suppliers to encourage continued business growth.
“Our objective is to create sustainable competitive edge in our businesses by creating a close network with our strategic supply partners,” said Barbara Kux, Chief Procurement Officer of Royal Philips Electronics and member of the Group Management Committee.
Three Awards were presented: Best Overall, Breakthrough, and Growth Contribution. The winning suppliers were selected from Philips global supply base.
The Amtek Group, a leading global supplier of metal, plastic and rubber components and products, won the ’Best Overall’ Award. Amtek supplies Philips with metal and plastic components and assemblies with consistently high levels of supply continuity, product quality and customer service.
Sanmina-SCI Corporation, a leading global electronics manufacturing services (EMS) company, won the ’Breakthrough’ Award. Sanmina-SCI supplies Philips with printed circuit board fabrication and assemblies, high-level system assemblies, precision machining, enclosures and set-top boxes. In 2005, Sanmina-SCI successfully transferred manufacturing operations from Philips production centers to Sanmina-SCI facilities.
LG.Philips LCD won the ’Growth Contribution’ Award. LG.Philips LCD supplies Philips with LCD panels for televisions, monitors and other products. In 2005, LG.Philips LCD substantially increased production to satisfy increased demand; enabling Philips to increase production volume and develop new market segments for products featuring larger LCD screens.
The awards were presented during Philips’ Supply Management Leadership Meeting, which is attended by Philips top 100 supply management staff.
Introduced in 2006, the Philips ’Partners for Growth’ Global Supplier Awards will be held annually.
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
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