Philips to sell assembly factory to Jabil

Located in Kwidzyn, Poland, the CRT television facility is one of six Philips production facilities located in Poland, and is known as Philips Consumer Electronics Industries Poland (PCEIP). Jabil will continue production assembly for Philips from the facility, which complements a Kwidzyn PCB manufacturing production facility Jabil acquired from Philips in 2002. The sale of the plant is part of the Business Renewal Program of Philips Consumer Electronics, which is designed to strengthen Philips global competitive position by simplifying the organization and lowering costs. The proposed transaction, subject to approval of the relevant regulatory authorities, is expected to conclude in November 2004.