Philips to Relocate Some Razor Production to China
Apr 7, 2003
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Dutch Philips Electronics NV said on Monday that it plans to relocate part of its production of electronic razors to China some time after 2005. As a result, the company will lower production capacity at a production plant in Drachten, in the north of the Netherlands. A spokesman for Philips said he couldn't rule out exceptional charges to cover for that adjustment. Financial details were not released. A Dutch local newspaper reported Monday that Philips could cut several hundred jobs at its Drachten plant, which currently has a workforce of about 2,000. (Dow Jones)

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