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Philips Electronics Selling Communication, Security and Imaging Business to Bosch

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AMSTERDAM, The Netherlands, Aug. 7 -- Royal Philips Electronics and Robert Bosch GmbH have signed a preliminary agreement regarding the sale of Philips' Communication, Security & Imaging (CSI) unit. Completion of the transaction, which is subject to customary consultation procedures with trade unions and workers councils and clearance by the competition authorities, is expected to take place later this year. Financial details were not disclosed. Philips CSI is headquartered in Eindhoven, the Netherlands, operating in 35 countries worldwide and employing approximately 1300 people, all of whom...Read full article

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    Published: August 2002
    defenseNews & Features

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