Philips, he added, would be open to "consider various options for alternative ownership structures" for the lighting arm — which could include seeking a separate stock market listing for it or selling it directly in part or whole. Tuesday's announcement follows a decision by Philips in June to spin off yet another major chunk of its operations: its lighting components arm, which services many industries that need specialized lighting parts — notably automakers. The company also warned it expects its operating profit in the second half of 2014 to be lower than the second half of 2013, due to legal costs and "softness in multiple markets," although lighting operations in North America and Europe are strengthening.
Philips To Separate Lighting Arm Into New Company
By TOBY STERLING, Associated Press, San Francisco Chronicle: World
Tue, 09/23/2014 - 1:25am
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