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April 7, 1997updated 05 Sep 2016 12:26pm

PHILIPS PLANS SALE OF MORE “UNDERPERFORMING” BUSINESSES

By CBR Staff Writer

Philips Electronics NV says it intends to sell nine more small, underperforming businesses, freeing up resources to grow its core activities. The companies concerned – Philips Power Systems of Wavre, Belgium; Thermocoax of Suresnes, France; Philips TV Test Equipment of Brondby, Denmark; Philips Weighing and Philips Electronic Center of Hamburg, Germany; Philips Industrial Automation Systems of Eindhoven and PBF of Almelo in the Netherlands; Philips Kistaindustrier AB of Kista, Sweden and Edax International Inc of Mahwah, New Jersey employ around 1,500 staff and made up some 15% of the $1.5bn or so sales in the Industrial Electronics unit.

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