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Philips Plans to Raise Environment-Friendly Sales

Philips Electronics said on Tuesday it plans to spend 1 billion euros ($1.41 billion) over the next five years to increase sales of environment-friendly products.

Chief Executive Gerard Kleisterlee said in a statement that the Dutch electronics maker is aiming for 30% of its sales to come from energy-efficient lighting products and other products that use less energy, double the sales level in 2006.

Dutch daily de Telegraaf first reported the targets, citing a memo from Kleisterlee to Philips employees. Philips, the world's biggest lighting maker, is also aiming to make itself 25% more efficient in energy use, and that by the end of 2008, all of the company's offices would be equipped with enery-efficient lighting systems.

Philips earlier this month said it was restructuring into three units focusing on healthcare, lighting and consumer lifestyle.

Philips has been shifting to more stable and higher-margin businesses with last year's sale of stakes in its semiconductor unit, now named NXP, LCD screen maker LG.Philips LCD and Taiwan's chip maker TSMC.

Dutch mail and express company TNT launched a major push last month to cut its carbon dioxide emissions, saying its long-term goal was to be the first zero-emissions road and air transport company.