Dutch company PHILIPS has sold its electronics sub-contracting subsidiary PCMS (turnover EUR 1.4 billion in 2001) to the US group JABIL CIRCUIT, one of the world's leaders in this field, for the sum of EUR 235 million. The production sites, which will be integrated into the JABIL group, will continue to provide components for PHILIPS products according to the terms of a four-year contract, for the sum of EUR 4 billion.