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Electronics Production | January 26, 2006

ST: "No plans for acquisition of Philips"

Despite the rumors circulating over a possible merger, ST Microelectronics has through its president Carlo Bozotti announced that the company has no plans for acquiring Philips semiconductor division.
“A merger with Philips Semiconductors is not on the agenda,” said Bozotti in response to a question posed at a press and analysts' conference in Paris that was broadcast over the Internet.

According to EETimes Philips Semiconductors' CEO Frans van Houten had also raised geographical complementarity as a consideration when asked a similar question a few days before.

“We have a roadmap of alliances with customers, but also with competitors. We have initiatives that we will announce shortly,” Bozotti told the audience.

“The five-year plan of the company is based on organic growth, not on acquisition. Of course we are vigilant and in a position to look at opportunities if opportunities may come,” he said.

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