Philips announces divestment of High Tech Plastics Tooling
Tuesday, July 04, 2006, Amsterdam, The Netherlands – Royal Philips Electronics (NYSE:PHG, AEX:PHI) and Varova B.V. today announced the completion of the sale of Philips High Tech Plastics Tooling, part of Philips High Tech Plastics, to Varova BV. Further financial details of this transaction were not disclosed.
Philips High Tech Plastics Tooling develops, manufactures and integrates high-tech injection molding solutions and tools. Philips High Tech Plastics Tooling, part of Philips Corporate Investments and based in Eindhoven, employs approximately 115 people in The Netherlands.
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 161,500 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
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.
- Contact Information
- Jeannet Harpe
- Philips Corporate Communications
- Royal Philips Electronics of the Netherlands
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