Philips sells its APM manufacturing to Lite-On

Terms of the deal between Philips and Lite-On were not disclosed. According to EETimes the APM operations are no longer considered as core businesses within the Philips conglomerate. The business would now be transferred to a joint-venture between the two companies that will operate under the name Philips & Lite-On Digital Solutions, or PLDS. The transaction is due to be competed in March 2007, subject to normal regulatory approvals. The manufacturing operations due to be sold are mainly located in Györ, Hungary and the activities that will be transferred to PLDS include research and development, marketing and sales and product management activities, which are primarily located in Wetzlar, Germany.