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The Rs 3,000 crore Philips India Ltd will complete the legal merger of all its business divisions in the country and emerge with a new name -Philips Electronics India. Philips India is a debt-free,cash surplus company.The high courts in Kolkatta, Mumbai,and Karnataka have cleared the merger of Philips software division ,Banglore and Philips Medical Systems, Mumbai with a parent company. Philips has put in seven to eight years in redesign and cleaning up operations ,informed K Ramachandran,vice-chairman and managing director of Philips India . He added "Once the merger is complete, Philips India wants to move away from the consumer electronics lighting image it has to being a health care , lifestyle and technology company."Philips India is investing up to $ 50 million in its new R&D facility in Banglore, where it intends to move by the end of the year. Philips India has major divisions in lighting, consumer electronics, health care, semi-conductor R&D and domestic appliances. The R&D centre will focus on electronics ,medicine and new technology development, inaddition to embedded software. |
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| Posted : 10/28/2005 |
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