GE plans to renovate R&D center

Having filled the gaps in its product line with assets from ADAC, Agilent, and Marconi, Philips is now filling niches. Earlier this month, the Dutch company submitted a letter of intent to acquire certain assets of Richardson Electronics. Philips wants the medical company's glassware business, including its reloading operations and distribution organization for x-ray, CT, and image intensifier tubes. The glassware business generated about $20 million in fiscal 2001. Terms of the transaction were not disclosed. The final deal is subject to due diligence.