March 4, 2020 / 10:52 AM / a month ago

Philips CEO says supply chains recovering in China

AMSTERDAM, March 4 (Reuters) - The chief executive officer of healthcare equipment maker Philips on Wednesday said the company’s supply lines in China are beginning to recover from shutdowns caused by the coronavirus outbreak there and it cannot yet estimate how large the impact will be on its first-quarter results.

Frans van Houten said that Philips has seen demand for its scanners and respiratory devices rise as a result of the outbreak, and its factories in China are operating at 80% of capacity. Van Houten was speaking to reporters at the company’s offices in Amsterdam.

Reporting by Toby Sterling, editing by Louise Heavens

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