December 7, 2016 / 7:18 AM / 16 days ago

BRIEF-Koninklijke Philips Ramping Up Production Of Hospital Ventilators

March 22 (Reuters) - Koninklijke Philips NV:

* IS RAMPING UP PRODUCTION OF HOSPITAL VENTILATORS

* PLANS TO DOUBLE PRODUCTION WITHIN NEXT EIGHT WEEKS AND ACHIEVE A FOUR-FOLD INCREASE BY Q3 OF 2020

* PHILIPS-EFFORTS TO RAISE PRODUCTION INCLUDE HIRING ADDITIONAL MANUFACTURING EMPLOYEES, SHIFTING CURRENT EMPLOYEES TO SUPPORT RAISED DEMAND IMMEDIATELY

* IMPACT OF OUTBREAK RESULTING IN DECREASED DEMAND FOR PHILIPS’ CONSUMER PORTFOLIO AND IS AFFECTING PHILIPS’ GLOBAL SUPPLY CHAINS

* EXPECTED TO HAVE A NEGATIVE IMPACT ON FINANCIAL PERFORMANCE OF PHILIPS IN FIRST HALF OF 2020

* CO CAN’T QUANTIFY MAGNITUDE, DURATION OF IMPACT FROM VIRUS OUTBREAK AT THIS TIME GIVEN CONTINUED FLUIDITY OF SITUATION Source text for Eikon: Further company coverage:

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