Tuesday, August 09, 2005

Philips Electronics India formed

Philips today announced the completion of the merger of Philips Medical Systems India Private Limited and Philips Software Center Private Limited with Philips India Limited and brought under one brand name Philips Electronics India Limited. The merger and change of name takes effect post consents and approvals from the shareholders and the High Courts at Kolkata, Mumbai and Bangalore. The change of name to Philips Electronics India Limited enables the Company to present a unified face of the brand to all stakeholders. Business operations will not change as a consequence of the merger and name change; the aim is to simplify and rationalize Philips' operations in India - through a single legal entity.