|
PHILIPS COMPLETES AQUISITION OF SPECIALTY LIGHTING MANUFACTURER LTI February 2008 Amsterdam, the Netherlands – Philips has completed its acquisition of Lighting Technologies International (“LTI”), a US manufacturer of high-power xenon lamps for the entertainment industry. As a result of the transaction, LTI is financially consolidated with immediate effect within the Special Lighting Applications business group of Philips’ Lighting division. LTI has been highly successful in building up a strong presence in high-power xenon lamps that will round out Philips’ portfolio of xenon lamps, which until now did not include high-power applications. Acquiring LTI will allow Philips to better access the growing and profitable entertainment lighting market. About Royal Philips ElectronicsRoyal Philips Electronics of the Netherlands is a global leader in healthcare, lifestyle and technology, delivering products, services and solutions through the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 125,800 employees in more than 60 countries worldwide. With sales of EUR 27 billion in 2006, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, personal care and home appliances, as well as consumer electronics. News from Philips is located at www.philips.com/newscenter. |
|||