Impact of Philips-TPV partnership on Hungarian unit still unclear

Initiatives

Dutch electronics maker Philips wound up talks on putting its loss-making television business into a joint venture with Hong Kong’s TPV group this week, but the impact of the decision on Philips’ plant in Székesfehérvár (NW Hungary) is still unclear, Philips communications director for Central and Eastern Europe Péter Blazsevácz told MTI on Friday.

Philips announced in April that it entered into a term sheet to transfer its television business into a JV with TPV Technology as part of a long-term strategic partnership. The new company will be 70% owned by TPV and 30% by Philips, Philips said.

ADVERTISEMENT

MOL Budgets HUF 40 bln for Domestic Exploration in 2023 Energy Trade

MOL Budgets HUF 40 bln for Domestic Exploration in 2023

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

BMW Adding Battery plant in Debrecen, Doubling Investment Va... Manufacturing

BMW Adding Battery plant in Debrecen, Doubling Investment Va...

Hard Rock Hotel Opens 'Star Chalet' for Winter Season Hotels

Hard Rock Hotel Opens 'Star Chalet' for Winter Season

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.