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Name | Symbol | Market | Type |
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Lyxor Index Fund-Lyxor Stoxx Europe 600 Pers& Hou Good UCITS ETF | BIT:PHG | Italy | Exchange Traded Fund |
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0.00 | 0.00% | 0 | - |
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
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