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Philips Refocus its European TV Manufacturing

1/31/2003 08:58:00 AM Eastern

Amsterdam - Royal Philips Electronics said it will refocus its European TV manufacturing operations to be better positioned for the upcoming challenges in the global TV market.

The company will seek to build on its strength as a manufacturer of flat TV products by shifting European flat TV assembly operations to an existing direct-view TV factory in Dreux, France.

Philips said it also intends to transfer part of the production of CRT TV sets to the existing Philips factory in Szekesfehervar, Hungary. Philips said 'a capacity adjustment' would result from the change at the Dreux facility.

Philips said it expects to complete the details of the plan in the coming weeks. A company statement indicated Philips would 'analyze the consequences and the timing of implementation of these changes, in close consultation with the workers' representatives.'