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Philips sells technology equipment sub-system business |
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Aug 16, 2006 at 05:31 PM |
 Royal Philips Electronics has signed a letter of intent for VDL Groep to acquire Philips Enabling Technologies Group (ETG), which handles sub-system assembly and sub-component manufacturing of a wide range of semiconductor equipment types that includes assembled vacuum systems for some of ASML's lithography tools.
VDL Groep is a diversified engineering company headquartered in Eindhoven, home to the Philips ETG division. The group employs approximately 1650 people, of which about 1100 are in The Netherlands, and had revenues of €231 million in 2005, according to Philips.
The sell-off is part of Philips' move away from semiconductor-related manufacturing operations and follows on from the sell of Philips semiconductor division.
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