Philip Industrial Services history

Frederik, a banker based in Zaltbommel, financed the purchase and setup of a modest, empty factory building in Eindhoven, where the company started the production of carbon-filament lamps and other electro-technical products in 1892.

In 1895, after a difficult first few years and near bankruptcy, the Philipses brought in Anton, Gerard’s younger brother by sixteen years.

The company was built on a signal arm when a patent was awarded to Phillips founder Hugh Phillips in 1928.

On May 9, 1940, the Philips directors learned that the German invasion of the Netherlands was to take place the following day.

Philips Radio was absorbed shortly after liberation when its two shortwave stations were nationalised in 1947 and renamed Radio Netherlands Worldwide, the Dutch International Service.

In 1949, the company began selling television sets.

In 1950, it formed Philips Records.

Philips introduced the audio Compact Audio Cassette tape in 1963, and it was wildly successful.

In 1965 Enzo Fracassi and his family arrived in Hamilton, Ontario, from Italy.

In 1972 Philips launched the world’s first home video cassette recorder, in England, the N1500.

Philip Environmental was formed by brothers Allen and Philip Fracassi, who had begun their business careers when they took over their father's bankrupt Hamilton-based trucking company in 1979.

1981 A hazardous waste incinerator was installed to treat still bottoms (distillation waste). The facility also began to process a broader variety of waste streams.

12/1982 Quality Drum and Industrial Chemical merged.

06/1983 Stablex South Carolina, Inc. acquired all four parcels of the facility property.

11/1986 Stablex South Carolina, Inc. began operating under the assumed name of ThermalKEM, Inc.

Nearly a decade later, in July 1989, Taro sold its landfill and ancillary quarrying assets in an all-stock transaction to a company named Lincoln Capital Corp., which became involved a year later in the transactions that gave birth to Philip Services' predecessor, Philip Environmental.

With revenues approaching the $1 billion mark, since 1990 the company has grown nearly 40 times its size at that time--an astounding accomplishment by any standard.

In 1991, the company’s name was changed from N.V. Philips Gloeilampenfabrieken to Philips Electronics N.V. At the same time, North American Philips was formally dissolved, and a new corporate division was formed in the United States with the name Philips Electronics North America Corp.

The three most important acquisitions came in 1993, when Philip Environmental bought I. Waxman & Sons, Ltd., Burlington Environmental Inc., and Nortru Inc.

In November 1994, Philip Services purchased Deslan Environmental Group Inc., a decommissioning and remediation services company based in Toronto.

In January 1995 the company began operating and managing water and wastewater treatment plants for the municipality of Hamilton-Wentworth, a region of 500,000 people in southern Ontario.

The campaign began in earnest in December 1996.

In May 1997, the company changed its name to Philip Services Corp.

In May 1998, Allen Fracassi stepped down as chief executive officer, replaced by an executive touted as a turnaround specialist who was hired to sell assets, lead negotiations with banks, and restructure Philip Service.

The company ended the year with a numbing $1.6 billion loss and began 1999 preparing to file for bankruptcy.

Philip Services emerged from bankruptcy protection in April 2000, getting what it hoped to be a fresh start in business.

The company lost $78 million in 2001 and $59 million the following year.

In March 2002, as the company headed towards a $59 million loss, Anthony Fernandes resigned as chief executive officer, creating a vacancy that was not filled for more than a year.

In April 2003, John Correnti, formerly chief executive office of Nucor Corp. and Birmingham Steel Corp., was hired as acting chief executive officer, but the arrival of a new leader did little to bolster Philip Services' cause.

2004 DHEC began a remedial investigation, which included several phases to determine the source, nature, and extent of soil and groundwater contamination.

In December 2005 Philips announced its intention to sell or demerge its semiconductor division.

On 21 August 2006, Bain Capital and Apax Partners announced that they had signed definitive commitments to join the acquiring consortium, a process which was completed on 1 October 2006.

Daimler Trucks North America has recognized Phillips Industries as one of its best suppliers for 2007 with its prestigious Masters of Quality Award.

On 21 February 2008 Philips completed the acquisition of VISICU Baltimore, Maryland through the merger of its indirect wholly owned subsidiary into VISICU. As a result of that merger, VISICU has become an indirect wholly owned subsidiary of Philips.

For the third time, Phillips Industries has been selected to receive the prestigious Daimler Trucks North America Masters of Quality Award for 2010.

In January 2011 Philips agreed to acquire the assets of Preethi, a leading India-based kitchen appliances company.

In March 2012 Philips announced its intention to sell, or demerge its television manufacturing operations to TPV Technology.

In April 2013, Philips announced a collaboration with Paradox Engineering for the realization and implementation of a “pilot project” on network-connected street-lighting management solutions.

On April 28, 2014 Philips agreed to sell their Woox Innovations subsidiary (consumer electronics) to Gibson Brands for $US135 million.”