Japanese takeover ceramics firm from Philips Electronics
Japanese takeover ceramics firm from Philips Electronics
Philips Components, a division of Royal Philips Electronics, has sold
its worldwide fine ceramics and ferrits (used to make electronic
components) production lines to Taiwan-based Yageo, the world's biggest
electronics components manufacturer for around euro 650 million. Among the
10 plants purchased by Yageo is soft ferrits plant in Skierniewice which
was turned into a new company Ferroxcube. The new company will continue
with the policies outlined by Philips and is not planning any staff or
production cuts. "The plant in Skierniewice is one of the biggest and best
modernized plants we took over from Philips. We want to turn it into the
most important factory in Europe within the next five or 10 years. As the
demand of ferrit-based product is growing we expect the employment to rise
steadily by 10% every year," said Ferroxcube head Jan Rietdijk. A total of
euro 5 million will be invested in the company by year end.
(Rzeczpospolita, page B4)
