Article: Acustar, Philips finalize automotive electronics agreement. (Philips Car Stereo International GmbH)

ACUSTAR, PHILIPS FINALIZE AUTOMOTIVE ELECTRONICS AGREEMENT

TROY, Mich., Nov. 26 /PRNewswire/ -- Acustar, Inc., Chrysler's stand-alone component subsidiary, and Philips Car Stereo International GmbH, Germany, an affiliate of NV Philips, the Netherlands, announced the finalization of a joint venture today, subject to all required approvals. Terms of the agreement include the establishment of a joint venture company -- Philips and Acustar Autoelectronics GmbH & Co., K.G. -- to design, develop, market and sell worldwide automotive electronic products, including radios and sound systems to the OEM market.

Philips Car Stereo International GmbH will hold ...

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