Koninklijke Philips Electronics NV (PHG) will establish an industrial campus for imaging systems in China, it said Tuesday. The project will be executed in cooperation with the Suzhou Municipal Government, Philips said.
With a total investment of EUR36 million in the next five years, the Philips campus will cover a total land space of 62,000 square meters and will be located in the Suzhou Industrial Park. The facility will employ 500 people and will be completed by mid 2012.
In the new facility, Philips will develop imaging equipment and X-Ray equipment for local hospitals in China.
-By Bart Koster; Dow Jones Newswires; +31 20 571 5201; bart.koster@dowjones.com