Philips announces divestment of Advanced Metrology Systems business unit
Friday, October 06, 2006 - Amsterdam, The Netherlands and Boston, Massachusetts - Royal Philips Electronics (NYSE:PHG, AEX:PHI) and JHW Greentree Capital today announced Philips has sold its Advanced Metrology Systems business unit to JHW Greentree Capital, L.P., an affiliate of J.H. Whitney & Co. of New Canaan, Connecticut. The business unit will form a new company called Advanced Metrology Systems LLC. As part of the transaction, Philips will retain a 19.9% stake in the new company. No further financial details of the transaction were disclosed.
Philips’ Advanced Metrology Systems business unit produces measuring equipment for the semiconductor manufacturing industry. Based near Boston, Massachusetts and employing approximately 35 people, Philips’ Advanced Metrology Systems business unit formed part of Philips Corporate Investments.
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lifestyle and technology, delivering products, services and solutions through the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 125,500 employees in more than 60 countries worldwide. With sales of EUR 30.4 billion in 2005, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, personal care and home appliances, as well as consumer electronics. News from Philips is located at www.philips.com/newscenter.
About J.H. Whitney & Co.
J.H. Whitney & Co. was established in 1946 by the industrialist and philanthropist John Hay Whitney as one of the first U.S. private equity firms, and it has invested in hundreds of companies over its 60-year history. Today, the Firm remains privately owned by its investing professionals and provides private equity capital for small and middle market companies.
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 of the Netherlands
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