Philips CEO: Expects EUR250 Million Savings In 2nd Half Of 2009
19 May 2009 - 11:33PM
Dow Jones News
Dutch electronics company Royal Philips NV (PHIA.AE) expects to
achieve EUR250 million savings in the second half of 2009, Chief
Executive Gerard Kleisterlee said Tuesday.
Speaking to investors and analysts at the Electrical Products
Group Spring Conference in Florida, Kleisterlee said the savings
include EUR125 million at Philips' consumer lifestyle unit and
EUR60 million at the firm's healthcare division.
At its lighting division Philips expects to save EUR47 million
in the second-half of 2009. Kleisterlee added he doesn't expect any
short-term recovery at this unit.
-By Maarten van Tartwijk, Dow Jones Newswires; +31 20 571 5201;
maarten.vantartwijk@dowjones.com