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

Panasonic to Merge Plants
Aug 10, 2005
 Printable format
 Email this Article
 Search

The Panasonic Group says it will spend 1 billion baht (approx. U.S. $24.5 million) to merge two plants to boost production and make Thailand the Japanese electrical and electronic goods company's regional hub within the next few years.

The merger of the two plants at the Welgrow Industrial Park in Chachoengsao provinces is to begin in September. By January, the refrigerator plant is scheduled to merge with the manufacturing facility for washing machines, electric pots, and rice cookers. The combined plant will continue to export to Japan and other Asian nations. The Thailand plants are among 14 key overseas sites wholly owned by the Panasonic Group, which has its headquarters in Tokyo.

Daizo Ito, CEO of the Panasonic Group in Thailand, said the plant merger was aimed at reducing production costs, and boosting Panasonic's market competitiveness. But it was too early to estimate how much it would save. The move comes as Thailand and Japan continue negotiations on a free trade agreement, and Panasonic hopes to cash in on FTA benefits.

Mr. Ito said no employees would be laid off because of the merger, and that Panasonic in fact had plans to increase its Thai workforce. He was optimistic about investment in Thailand, and said Panasonic was already committed to raising its own investment. Panasonic has projected sales of all products made in Thailand, including exports, would grow to 75 billion baht (approx. $1.8 billion) in 2006, up from 60 billion baht (approx. $1.5 billion) this year.

The company projects sales of 15.2 billion baht (approx. $371.6 million) for audio-visual systems, batteries, and home appliances, up 13 percent from last year. Of the total, 9.5 billion baht (approx. $232.2 million) would come from audio-visual and battery products from Panasonic Siew Sales (Thailand) Co, while 5.7 billion baht (approx. $139.3 million) would come from home appliances under Panasonic A.P. Sales (Thailand) Co.

Mr. Ito said the company was confident of achieving this year's sales target, despite tight consumer spending. From April to June, the company's fiscal first quarter, it reported sales of audio-visual systems, batteries, and home appliance products grew 5 percent year-on-year to 2.3 billion baht (approx. $56.2 million). (Bangkok Post)

Back to Daily News

 

Daily News

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

Oct 23, 2014: Whirlpool Corporation to Showcase Resource-Efficient Technologies at Greenbuild

Oct 23, 2014: CWIEME Chicago exhibition had record attendees

Oct 22, 2014: Middleby to add U-Line to residential appliance business

Oct 22, 2014: iRobot's 3Q exceeds expectations, driven by Home Robots growth

Oct 22, 2014: Whirlpool Canada named 2014 Energy Star Manufacturer of the Year

More Daily News>>

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

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

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 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