Philips sells OM&T activities to Moser Baer of India
Posted: Tue Feb 06, 2007 7:51 am
http://www.newscenter.philips.com/About/News/article-15717.html
Tuesday, February 06, 2007
Amsterdam, The Netherlands– Royal Philips Electronics (NYSE:PHG, AEX:PHI) today announced the sale of its Philips Optical Media & Technology (OM&T) activities to Moser Baer India Ltd. for an undisclosed amount. OM&T develops DVD and Blu-Ray related technology for the optical disk industry.
The sale of OM&T is part of Philips’ program to divest certain components businesses, which have to that end been placed in its Corporate Investments portfolio. This transaction represents another step Philips is taking to focus on its Healthcare, Lifestyle and Technology activities supported by the strength of the company’s brand.
OM&T employs approximately 50 people in Eindhoven and had turnover in 2006 of approximately EUR 10 million. The transfer of ownership to Moser Baer is effectuated retroactively from January 1, 2007.
Tuesday, February 06, 2007
Amsterdam, The Netherlands– Royal Philips Electronics (NYSE:PHG, AEX:PHI) today announced the sale of its Philips Optical Media & Technology (OM&T) activities to Moser Baer India Ltd. for an undisclosed amount. OM&T develops DVD and Blu-Ray related technology for the optical disk industry.
The sale of OM&T is part of Philips’ program to divest certain components businesses, which have to that end been placed in its Corporate Investments portfolio. This transaction represents another step Philips is taking to focus on its Healthcare, Lifestyle and Technology activities supported by the strength of the company’s brand.
OM&T employs approximately 50 people in Eindhoven and had turnover in 2006 of approximately EUR 10 million. The transfer of ownership to Moser Baer is effectuated retroactively from January 1, 2007.