PHILIPS LIGHTING ACQUIRES ELECTRONIC BALLAST TECHNOLOGY, INC.
SOMERSET, N.J., Nov. 19 ~PRNewswire~ -- Philips Lighting Group and Electronic Ballast Technology, Inc. (EBT) announced today that Philips has acquired a majority share interest in EBT. Since its establishment over a decade ago by Peter S. Shen, its president, EBT has become a leading producer of electronic ballasts. Headquartered in Torrance, Calif., EBT specializes in electronic ballasts that employ innovative high frequency solid state circuit technology for use with fluorescent lamps. Philips Lighting Group consists of Philips Lighting Company, based in Somerset, N.J., and Advance Transformer Co., based in Rosemont, Ill. The group markets more than 4,000 lighting products to the retail, industrial~commercial and original equipment manufacturer markets. "The combination of Philips Lighting Group's superior lighting and ballast technology and EBT's strengths in electronic ballast innovation will give our team a stronger focus and capability to meet head-on the energy efficiency needs of the North American market," said Robert Minkhorst, Philips Lighting Group CEO. "Together, energy efficient lamps and electronic ballasts significantly improve the function and application of lighting." "While magnetic ballasts continue to be a mainstay in lighting, electronic ballasts are getting widespread use due to the significant benefits they deliver," said Shen, president of EBT. "In the commercial lighting sector, perhaps the single most important area of energy savings can be gained through the installation of more efficient ballasts." EBT electronic ballasts produce no feedback onto the power line and feature a total harmonic distortion of less than 20 percent and a power factor of 98 percent. New EBT products will feature a power factor of greaten than 99 percent and dimming capabilities. Philips Lighting Group is part of North American Philips Corporation and employs more than 9,000 people in over 50 manufacturing, sales, and distribution facilities throughout the United States. North American Philips Corporation is a major U.S. manufacturer and is part of Philips Electronics, N.V. of The Netherlands. -0- 11~19~92 ~CONTACT: Steve Goldmacher of Philips Lighting Company, 908-563-3039~ (PHG)
CO: Philips Lighting Group; Electronic Ballast Technology, Inc. ST: New Jersey, California IN: CPR SU: TNM
KD -- NY050 -- 2901 11~19~92 12:36 EST
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|Date:||Nov 19, 1992|
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