The Philips Electronics security camera manufacturing plant, which employs 110 people in Cork, has been acquired by US-based AVEX Electronics Incorporated. The transaction includes an agreement for AVEX to continue supplying products currently manufactured in Cork to Philips.

According to Philips, the Cork plant will further support its plans to increase its share of the market in security cameras and related equipment. The Cork plant was part of the Video Camera Modules business within the Philips Consumer electronics division.