Koninklijke Philips N.V.
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Publicatie datum
28 nov 2006 - 08:32
Statutaire naam
Koninklijke Philips N.V.
Titel
Philips to sell Philips Sound Solutions to D&M Holdings
Bericht
November 28, 2006
PHILIPS TO SELL PHILIPS SOUND SOLUTIONS TO D&M HOLDINGS
Amsterdam, The Netherlands and Tokyo, Japan – Royal Philips Electronics (NYSE:PHG, AEX:PHI) and D&M Holdings Inc. (TSE I:6735) of Japan today announced Philips will sell its Philips Sound Solutions (PSS) business unit to D&M. As part of the transaction, all sites and activities of PSS will be transferred to D&M. The transaction, which is expected to close in the fourth quarter of 2006, will be settled in cash. No further financial details about the transaction have been disclosed.
Philips Sound Solutions is an OEM supplier of speaker systems, primarily to the automotive industry. As an OEM component developer and manufacturer, PSS is considered a non-core activity for Philips, forming part of Philips Corporate Investments. This transaction represents another step Philips is taking to focus on its healthcare, lifestyle and technology activities supported by the strength of the Philips brand.
D&M intends to accelerate its OEM business in this industry by building on the automotive assets and relationships of PSS. The transaction will also provide D&M with technologies and know-how that will enable D&M to introduce sound applications with new technology.
Headquartered in Dendermonde, Belgium, PSS has development centers in Belgium, China and India, and production facilities in Belgium, Hungary, Ukraine, China and India. In 2005, PSS had revenues of approximately EUR 120 million.
For more information, please contact:
Arent Jan Hesselink
Philips Corporate Communications:
Tel: +31 20 59 77415
Email: arentjan.hesselink@philips.com
Naoyuki Honmura
D&M Holdings Inc.
Tel: +81-44-670-2008
Email: naoyuki.honmura@dm-holdings.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
Datum laatste update: 27 december 2025