AMSTERDAM (AFX) - Royal Philips Electronics NV said it will sell its Philips Sound Solutions (PSS) business unit to D&M Holding for an undisclosed sum in cash.
As part of the transaction, which is expected to close in the fourth quarter, all sites and activities of PSS will be transferred to D&M.
PSS had 2005 sales of around 120 mln eur.
Headquartered in Dendermonde, Belgium, PSS has development centres in Belgium, China and India, and production facilities in Belgium, Hungary, Ukraine, China and India. amsterdam@afxnews.com ls/rar COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
As part of the transaction, which is expected to close in the fourth quarter, all sites and activities of PSS will be transferred to D&M.
PSS had 2005 sales of around 120 mln eur.
Headquartered in Dendermonde, Belgium, PSS has development centres in Belgium, China and India, and production facilities in Belgium, Hungary, Ukraine, China and India. amsterdam@afxnews.com ls/rar COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
© 2006 AFX News
