Monday, January 26, 2015
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Motorola Returns To The Chinese Market with Three New Phones
LG Display Buys Rights To Use New OLED Technology
Turkish Court Orders Facebook to Remove Pages Insulting Mohammad
Malaysia Airlines And Russian Dating Sites Topface Websites Hacked
Logitech Introduces Portable Videoconferencing Solution
NVIDIA Comments On GeForce GTX 970 Memory Allocation Reports
Google Comments On Lack Of Security Patches On Older Android Phones
Sony is Offering Old Games To Settle The 2011 PlayStation Network Breach
Active Discussions
Sound card for my Laptop
full screen wide screen
Hi
About the restriction problem of chapter quantity in DVD
Booktype utilities for LiteON and OEM DVD Recorders
downgrade a nero vision 5 project to nero vision 2
what is the minimum burning speed
GSA-4163B and bitsetting
 Home > News > General Computing > Philips...
Last 7 Days News : SU MO TU WE TH FR SA All News

Monday, June 30, 2014
Philips to Create New Lumileds and Automotive Lighting Businesses Company


Philips will start the process to combine its Lumileds (LED components) and Automotive lighting businesses into a stand-alone company within the Philips Group, the Dutch company announced on Monday.

Philips said it would explore strategic options to attract capital from third party investors for that business. It will remain a shareholder and customer of the new company.

"Guided by our long-term strategy, we continue to actively manage our portfolio of businesses," said Frans van Houten, Chief Executive Officer of Royal Philips. "Philips? strategy in Lighting is to intensify its focus on connected LED lighting systems and services, LED luminaires, and LED lamps for the professional and consumer markets. Both our Lumileds and Automotive lighting businesses are strong players in the lighting industry and ready to pursue more growth and scale, independently of Philips Lighting. As a world-leading lighting components business, they will have increased flexibility to attract additional investors to accelerate growth."

Sales of the combined businesses were approximately EUR 1.4 billion in 2013. The chief executive officer of the new company will be Pierre-Yves Lesaicherre, the current chief executive officer of Lumileds. The process to combine Lumileds and Automotive into an integrated business within the Philips Group is expected to be completed in the first half of 2015. Costs associated with setting up the combined business are expected to amount to EUR 30 million in the second half of 2014.

Philips and the new subsidiary would continue to collaborate on research and development, van Houten said.



Previous
Next
Facebook Says It Cares About the Emotional Impact of The Social Network        All News        Panasonic, Samsung Debut Devices For Connected Classrooms
Facebook Says It Cares About the Emotional Impact of The Social Network     General Computing News      LG Joins The Open Automotive Alliance

Get RSS feed Easy Print E-Mail this Message

Related News
Philips Fidelio NC1L Headphones Go battery-free When Connected to Your iOS Device
TP Vision To Integrate Android into Philips TVs
Philips and Nintendo Resolve Patent Disputes
Philips 272G5DYEB 27-Inch G-SYNC Monitor launching Soon
Philips to Appeal $467 Million Patent Infringement Lawsuit
Philips Expands Its Series Of Ultra HD TVs Powered by Android
New Philips Hue Beyond Combines Functionality And Ambient Lighting for Home
Philips and Salesforce.com To Deliver Cloud-based Healthcare Information Technology
EU To Fine Philips, Infineon And Samsung
Philips to Sell WOOX Innovations to Gibson
Philips Announces Its 2014 TV Lineup
MWC: Philips and Ericsson Unite On Smart Street Lighting

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .