PHILPS semiconductor division stripping instead of considering the sale of subsidiaries

Holland Royal PHILPS Electronics (Royal Philips Electronics), officially announced, will be 2006 before the end of the semiconductor business companies stripped from the body. The Department will not be restructured after the split into a subsidiary, PHILPS is studying it will be sold to other companies.

PHILPS December 2005 shows the intention to divest the semiconductor sector. In the release of the news, said publicly that if the Department changed to an independent company, the stock ownership ratio will remain below 50%.

In the company's release, the company's president and chief executive officer Gerard Kleisterlee comments on the decision. "In recent months, we have been studying whether to divest the semiconductor sector, whether there are other options. The final decision will be stripped out of the Department to form a company, PHILPS company will put the main business focus to the medical and lifestyle related fields. This is consistent with our goal of 'Sense and Simplicity'".