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Cees Bruynes, chairman and president of NAP, emphasized that the changes were structural in nature and would not affect ongoing operations and operational responsibilities. A whole new level of growth was reached in 1969, when Conelco merged with North American Philips Co. Inc., another "little Philips" company, to form North American Philips Corp. (NAP). During the 1920s, the company's headquarters at Eindhoven underwent extensive renovation and expansion, with the construction of additional buildings for new and existing industrial products. With constant innovations and new product development--from tungsten filament to argon-filled lamps--the young company survived a difficult childhood. Before World War II, Bezit held 89 percent of Philips' shares, with another six percent under the control of General Electric Co. By the late 1950s, Bezit controlled 98 percent of the operating company's shares, and top management held "priority shares" that granted them the power to nominate members of the "board of management." It also began a long process of vertical integration in order to become more self-sufficient, establishing its own argon-production facility and its own glass works by the 1920s. And in 1995, a joint venture with Cree Research, Inc., made great advances in blue laser diode technology, useful in high density commercial memory systems and for military applications such as lightweight countermeasure systems and covert communications. In a joint venture with Hughes Communications, Inc., a subsidiary of Hughes Aircraft Co., NAP began field testing a HDTV satellite feeder signal system in 1989. Read the statement from our CEO Frans van Houten to find out how we're helping. 09-00080. According toNAP's new image was part and parcel of a general facelift that the parent company underwent well into the 1990s. The company leads in the market with its products which include cardiac care, acute care and home care, energy efficient lighting solutions and new lighting applications. Following suit, NAP's name was changed to Philips Electronics North America Corp. to more accurately define its products (especially its renewed emphasis on core consumer electronics) and more closely identify it with the parent company.
The company's solid R&D base was supplemented by the market weight of strategic acquisitions: Electra/Midland Corp. (1971); Unelec, Inc. (1972); Magnavox Co. and National Components Industries, Inc. (1974); Airpax Electronics, Inc. and Rohe Scientific Corp. (1976); General Electric Co.'s electronic capacitor manufacturing operation (1978); and a majority stake in the Centralab division of Johnson Controls, Inc. (1980). Philips Electronics North America Corporation is a subsidiary of Koninklijke Philips Electronics N.V., which is a provider of lighting and personal care products. This strategy came to a head in 1959, with the incorporation of Consolidated Electronics Industries Corp. (Conelco), a consolidation of a company of that name, Philips Industries, Inc., and Central Public Utility Corp. Pieter C. Vink, one of the original managers trained by Philips to ply overseas trade after the war, took the helm (after having steered North American Philips for decades).