Sanyo Electric Company (Tokyo, Japan) said yesterday it will sell two closed factories in Japan - a commercial air-conditioner plant in Tochigi Prefecture and a vending machines plant in Saitama Prefecture - according to a Reuters report. The closing come as a part of a plan Sanyo announced in July cut in half, by March of 2008, its 1.2 trillion yen (approx. U.S. $10.8 billion) of interest-bearing debt. Outlined in the plan were aims to trim its worldwide workforce by 15 percent and shut down 20 percent of its Japanese plant floor space.
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