Philips Electronics to Move U.S. Headquarters to Massachusetts
The giant Dutch company Philips Electronics will move its North American headquarters from New York City to Andover, MA, according to reports in Andover’s Eagle Tribune and the Boston Globe. The move is expected to be announced at a press conference with representatives from Philips and governor Deval Patrick tomorrow.
Philips’ healthcare division has had major operations in Andover since the company acquired Agilent Technology’s healthcare unit eight years ago. The company also has a number of other operations in medical devices and lighting systems in Massachusetts, bringing the total number of Philips workers in the state to almost 4,600.
The company has not been lured to Massachusetts with any tax subsidies or other incentives, Ted Weissenhoff, chief executive of Philips Electronics North America told the Globe. “We didn’t ask for any assistance,” Weissenhoff said. “We are thrilled to death with the innovation we have seen in Massachusetts.”
With sales of roughly $43 billion last year and around 133,000 employees total, Philips is one of the world’s largest electronics firms. The company is the leading producer of lighting equipment, from incandescent lamps to LEDs, and it has a big presence in the medical technology sector. But Philips is best known for its broad range of consumer electronics, from kitchen blenders to electrical shavers and the compact disc.