ECONOMIC INTERPENETRATION / (eu) telecommunications

The French electronics and telecommunications equipment group SAGEM is to acquire the "fax" business of the Dutch electronics company PHILIPS for an undisclosed amount. The division in question employs 350 and has a commercial network of 90 salespeople throughout all the large countries of Europe. In 2001, PHILIPS sold nearly 800,000 fax machines and made a turnover of EUR 130 million as opposed to 450,000 fax machines sold by SAGEM for a turnover of EUR 200 million. Furthermore, PHILIPS...