Philips in opto deal with Ritek

Philips in opto deal with Ritek
Richard Wilson Philips Components has teamed up with Ritek of the US to establish a joint venture company in Europe to manufacture optical media such as magneto-optical, CD-recordable and CD-rewriteable products. Existing Philips Magneto-Optical production, located in Wiesbaden, Germany, will transfer to the joint venture, which will be 70 per cent owned by Ritek and based in the same city. The two firms will also conduct technical co-operation for mass manufacturing of optical media. The venture, will also manufacture CD-recordable, and will be operational later this year.


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