Koninklijke Philips Electronics NV
3 January 2002
PHILIPS AGREES TO SELL ITS FAX BUSINESS UNIT TO SAGEM
Amsterdam, The Netherlands and Paris, France, January 3, 2002 - Royal Philips
Electronics (AEX:PHI, NYSE:PHG) of the Netherlands and Groupe SAGEM (Paris Stock
Exchange: SAG) of France announced today an agreement on the sale of Philips'
business unit fax to SAGEM. The transaction is expected to close in the next few
months and is subject to customary approvals.
The main activities of Philips' business unit fax are located in Vienna, where
about 350 employees are active in research and development, manufacturing,
marketing and service. Approximately 90 marketing & sales employees are
employed in several countries within Europe.
Strategically, the fax market and related printing technologies do no longer fit
within Philips as a high-growth technology company.
'Therefore we are happy with the solution to transfer this business into the
hands of a more dedicated company such as SAGEM', said Axel Ruckert, Chief
Executive Officer of Philips Consumer Communications, of which the business unit
fax is part. Gregoire Olivier, SAGEM's CEO, added: 'The acquisition of Philips'
fax business will allow SAGEM to strengthen its position in the fax market. It
will be a significant step forward towards reinforcing SAGEM's sales network
For further information:
Andre Manning, Philips Corporate Communications, tel +31 20 59 77199
Herve Philippe, Chief Financial Officer SAGEM, tel. +33 1 40 70 62 57
Royal Philips Electronics of the Netherlands is one of the world's biggest
electronics companies and Europe's largest, with sales of EUR 37.9 billion in
2000. It is a global leader in color television sets, lighting, electric
shavers, color picture tubes for televisions and monitors, and one-chip TV
products. Its 192,000 employees in more than 60 countries are active in the
areas of lighting, consumer electronics, domestic appliances, components,
semiconductors, and medical systems. Philips is quoted on the NYSE (symbol:
PHG), London, Frankfurt, Amsterdam and other stock exchanges. News from Philips
is located at www.news.philips.com
Groupe SAGEM is an internationally based high technology group. The second
largest French group in the field of telecommunications and the third European
company in electronics for defence and security, SAGEM maintains a presence in
more than 20 countries.