Created: 17 September 2007 | Watched by: 6 people | Comments: 0 comments

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  Philips to invest €1bn on environmental technology 

  http://www.ft.com/cms/s/4c4f3f86-6b00-11dc-9410-0000779fd2ac,_i_rssPage=9a36c1aa-3016-11da-ba9f-00000e2511c8.html

  Philips, the Dutch electronics company, plans to invest €1bn ($1.4bn) in developing environmental technologies in an attempt to boost its revenues from green products. The company, which is one of the ... market leaders in making low energy lighting technology, sees the rising demand for low-carbon technologies, fuelled by increasing government regulation on climate change, as a business opportunity. Philips has invested €400m in energy- efficient lighting in the past four years. The extra €1bn for the development of more technologies will be spent between now and 2012. Gerard Kleisterlee, chief executive, has told staff he wants the company to derive 30 per cent of its revenues from green technologies by 2012. Last year, environmental products accounted for about 15 per cent of group's sales, or about €4bn. The initiative will include efforts to reduce the energy used by the company's consumer electronic products. Philips has devised 200 products with an environmental slant in the past   [More...] [Less...]

  First added: 25 September 2007, by: Kate Porter  [Report as spam]

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  Tags:  energy-efficient lighting, environmental technology, low energy lighting, philips