Matsushita Electric Industrial Co Ltd, a Japanese consumer electronics maker, plans to invest a total of at least 800 million baht (approx. U.S. $21.3 million) this year and in 2007 to relocate production facilities to Thailand. The move will make Thailand Matsushita's regional production base for ventilation fans and home appliances such as washing machines and refrigerators, as well as components and parts including condensers and motors, according to the Bangkok Post.
Construction of the new factory will start next month and production will start in July, with total capacity of 50,000 units per month. About 70 percent of the output will be exported throughout Southeast Asia and Japan.
Panasonic (Thailand) expects sales for fiscal 2006, ending in March 2007, to exceed 70 billion baht (approx. $1.9 billion), up from 60 billion (approx. $1.6 billion) in 2005. The company also aims to increase the proportion of exports to over 80 percent from 65 percent now over the next 2 years, and boost sales to 83 billion baht (approx. $2.2 billion).
Last month, Panasonic started local production of 26- and 32-inch LCD TV sets at its Bang Phli plant, with an investment of 35 million baht (approx. $931.5 million). The new production will replace imports from Japan and China.
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