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Royal Philips Electronics and the Avio Group have announced that the Avio Group has acquired Royal Philips Electronics 80% stake in the aeronautical operations of Philips Aerospace . The part of aerospace business divested will have a new name. The new company, will be named Dutch Aero BV. .Parties have granted each other irrevocable option rights to acquire, respectively to sell,the remaining 20% of the shares. Philips Aerospace produces complex components for the worlds leading aerospace manufacturers such as General Electric, Boeing,Rolls Royce, Lockheed Martin and BAE Systems. |
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| Posted : 10/28/2005 |
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