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June 30, 2014
05:36 EDTPHGPhilips to combine LED components, Automotive lighting businesses
Royal Philips announced that it will start the process to combine its LED components and Automotive lighting businesses into a stand-alone company within the Philips Group. Philips will explore strategic options to attract capital from third party investors for the business. Philips intends to remain a shareholder and customer of the new company, and will continue the existing innovation collaboration. Sales of the combined businesses were approximately EUR 1.4B in 2013. The CEO of the new company will be Pierre-Yves Lesaicherre, the current CEO 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 30M in the second half of 2014.
News For PHG From The Last 14 Days
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October 12, 2015
08:03 EDTPHGPhilips announces collaboration with Genomic Health
Royal Philips (PHG) announced a collaboration with Genomic Health (GHDX) to leverage Philips digital pathology tools in Genomic Health's continuing scale up of its molecular diagnostic testing processes.
05:59 EDTPHGPhilips says Abhijit Bhattacharya succeeds Ron Wirahadiraksa as CFO
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October 9, 2015
05:20 EDTPHGPhilips strengthens collaboration with Amazon Web Services
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September 30, 2015
14:01 EDTPHGPhilips, MIT partner to research less invasive ICP measurement
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