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Koninklijke Philips N.V.

Koninklijke Philips N.V.

Below you will find information from the register publication of inside information. The information has been provided by the organisation.

Registration date 15 dec 2005 - 07:02
Statutory name Koninklijke Philips N.V.
Title Philips to place its Semiconductor business in a separate legal structure
Comments December 15, 2005 PHILIPS TO PLACE ITS SEMICONDUCTOR BUSINESS IN A SEPARATE LEGAL STRUCTURE Amsterdam, The Netherlands – Royal Philips Electronics (AEX: PHI, NYSE: PHG) today announced it will start the process to create a separate legal structure for its Semiconductors business, giving Philips flexibility to pursue strategic options for further strengthening the longer-term performance of these activities. In early 2005 Philips introduced a Business Renewal program to improve the Semiconductor division’s competitiveness and bring profitability through the cycle to between 5 and 15%, as well as to increase market share in the Semiconductors division’s four core businesses of Mobile & Personal, Home, Automotive & identification, and Multi Market Semiconductors. “While we are pleased with the progress of the Business Renewal Program, we see opportunities to further strengthen the activities and maximize shareholder value, with the step we announced today, in an industry where scale matters,” Gerard Kleisterlee, President and CEO of Royal Philips Electronics, stated. “This move will lead to increased flexibility for our Semiconductor business to invest, grow and build scale in the competitive semiconductor market, while continuing to leverage the strengths of Philips overall. This is good news for our customers and employees, ” said Frans van Houten, CEO of Philips Semiconductors. For more information on this announcement, please visit www.newscenter.philips.com. You can also visit http://www.webcast.philips.com/15122005 to access a webcast, which begins at 10:00 AM (CET) today, December 15, covering the announcement. For further information, please contact: Philips Corporate Communications Jayson Otke Tel.: +31 20 59 77 215 E-mail: jayson.otke@philips.com About Royal Philips Electronics Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world’s biggest electronics companies and Europe’s largest, with sales of EUR 30.3 billion