Philips buys China's LED maker NCW
Dutch electronics giant Philips said on Monday it had bought the privately-held Chinese entertainment and LED lighting manufacturer NCW Holdings LTD.
No purchase price was given for the Hong Kong-based company, founded in 1992, and which employes 450 people at a factory on the Chinese mainland.
"NCW will further broaden our global portfolio of solutions for the entertainment market," Rudy Provoost, Chief Executive Officer of Philips Lighting, said in a company statement.
NCW will be integrated into Philips entertainment lighting business.
"NCW will add considerably to the palette of creative lighting solutions we can provide customers such as theaters, concert producers, television studios and sports events," added Provoost.
© 2010 AFP