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Philips sells OM&T activities to Moser Baer of India

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.

For more information, please contact:

Arent Jan HesselinkPhilips Corporate Comunications
Tel +31 20 59 77415
email arentjan.hesselink@philips.com 

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 121,700 employees in more than 60 countries worldwide. With sales of EUR 27.0 billion in 2006, 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.

 

Forward-looking statements

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 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.

Source:www.newscenter.philips.com

Add comment February 10th, 2007