Panasonic sets-out production investment plans at Sanyo
Having recently finalized its take-over of Sanyo Electric Company for approximately US$4.6 billion, Panasonic has set-out its expansion plans for Sanyo’s solar division. The new Panasonic Group claims that it will lead the environmental and energy fields in the future and implement ‘bold business strategies towards future growth.’ The company is targeting 2018 for these goals, which coincide with 100th anniversary since the formation of Panasonic. Panasonic said it would expand its solar cell business, combining SANYO's world-leading solar technology with the worldwide sales channels, energy management technology and building products/electrical construction materials technologies of Panasonic and Panasonic Electric Works. An investment of approximately 100 billion yen (approx, US$1.08 billion) from fiscal 2011 to 2016 to increase production of Sanyo's ‘HIT’ technology for its solar cells. Panasonic aims to become the No.1 market share holder in Japan in fiscal 2013 and one of ...