Philips to sell Power Solutions business to Bobitrans of Spain
Amsterdam, The Netherlands – Royal Philips Electronics (NYSE: PHG, AEX: PHI) today announced it will sell its Power Solutions business to Bobinados de Transformadores, S.L. (“Bobitrans”) of Spain for an undisclosed amount. Philips Power Solutions develops power supplies for consumer electronics and professional applications.
The sale of Power Solutions represents another step Philips is taking to focus on its Healthcare, Lifestyle and Technology activities supported by the strength of the company’s brand. Power Solutions is part of Philips’ Corporate Investments portfolio, and employs approximately 100 people – of which approximately two-thirds work in Eindhoven, the Netherlands. The sale of Power Solutions is expected to close in the third quarter of 2007.
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