The toolmaking business is considered non-core by the electronics group

Philips Electronics has sold its plastic toolmaking business after deciding the activity no longer fitted its plans. Philips High Tech Plastics Tooling, a separate entity within Philips Electronics, was bought by Dutch firm Varova for an undisclosed fee. A Philips spokeswoman told PRW.com : “The tooling company did not sit in our core strategy. Philips is in the healthcare, lifestyle and technology sectors. The production of tooling is not part of the core.”

Asked whether this shift of focus could threaten Philips’ plastics moulding operation, she replied: “Each business we are in will continue to be reviewed as usual.” Philips High Tech Plastics Tooling produces tools for use within the global electronics and healthcare giant, as well as for outside companies. It specialises in tooling for CDs, DVDs, mobile phones, lighting and automotive sensing applications. Philips had been making plastics moulding tools since 1927 and employed around 100 people at its Eindhoven site, all of who will now work for Varova.