Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Matsushita to Build China Appliance Plant
Oct 15, 2004
 Printable format
 Email this Article
 Search

Japan’s Matsushita Electric Industrial Co. Ltd. announced plans to build a major home appliance manufacturing complex in China to tap growing local demand and better compete with Asian rivals.

A spokesman at the maker of Panasonic products said the company will break ground on Oct. 18 for a new appliance company in eastern China’s Zhejiang province.

The Nihion Keizai Shimbun business daily reported that the complex will make washing machines, rice cookers, and other home electronics, and is expected to generate annual sales of about 10 billion yuan (U.S. $1.21 billion).

Matsushita has fallen behind rivals such as China’s Haier Group and South Korea’s LG Electronics Ltd. in pricing largely due to overlapping production facilities spread out across China and Southeast Asia.

The company hopes that by consolidating white goods production in the new Zhejiang complex, it will reduce costs to better weather touch price competition with Haier, LG, and other industry players.

Matsushita is said to be investing about 20 billion yen (approx. $183.5 million) to build the washing machine plant with an annual capacity of 3 million units. The plant is expected to become operational in October 2005. (Reuters)

Back to Daily News

 

Daily News

...........................................................

Oct 31, 2014: Whirlpool Completes Acquisition of Majority Stake In Hefei Sanyo

Oct 30, 2014: Whirlpool Corp. reports strong third-quarter

Oct 30, 2014: Statistical Portrait of the European Appliance Industry Released by Appliance Magazine

Oct 30, 2014: New Whirlpool acquisition Indesit reports profit for year so far

Oct 30, 2014: Consumer Confidence Index rebounds in October

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows