Dutch lighting and healthcare company Philips said on Monday it would merge its Lumileds LED components and automotive lighting divisions into a standalone subsidiary which could potentially be spun off. The company said its lighting division would remain a key customer for the new subsidiary but that it would look for third-party investors. The decision is the latest stage in Philips' shift from an electronics company into a healthcare and lighting business. Lumileds is a manufacturer of high-powered LED lights, while the automotive lighting division sells light sources to carmakers and auto parts and repair stores.
via Health News Headlines - Yahoo News
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