Philips joins optical storage manufacturing venture

Philips joins optical storage manufacturing venture
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-rewritable products.
Existing Philips Magneto-Optical production, located in Wiesbaden, Germany, will transfer to the joint venture based in the same city. The two firms will also conduct technical cooperation for mass manufacturing of optical media.
The new company also plans to invest in production capacity for CD-recordable. Philips and Ritek expect the new company to be operational during the second half of 1999. Ritek will acquire a 70 per cent of the venture.

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