Matsushita Considering Vietnam Plant for Appliances
Mar 25, 2003
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Matsushita Electric Industrial Co. said on Tuesday that it is considering building a new plant in Vietnam to produce refrigerators, air-conditioners, and other home electronics goods.
However, the company said the size of the investment has yet to be decided. The Yomiuri Shimbun reported on Tuesday that Matsushita would invest somewhere between U.S. $50 million to $60 million on the plant.
If plans are finalized, the factory will be built just outside Hanoi and will initially make products for Vietnam's domestic market, said a Matsushita Electric spokesman. He also said the factory may make home electronics products for other markets if capacity allows.
The factory's monthly production capacity and the size of its workforce have not yet been disclosed.
The spokesman stressed that the plans were still tentative: The Yomiuri reported that investment for the plant could be completed by the end of this year. (Dow Jones)
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