Brazil: Matsushita Electric to shut car components manufacturing unit amid falling prices

摘要

MATSUSHITA Electric Industrial Company has announced that it will close its car components manufacturing subsidiary in Brazil as it reorganises operations to deal with declining prices, according to Bloomberg. The company plans to shut Panasonic Electronics Devices do Brasil by the end of April, shifting car speaker manufacturing operations to its factories in Mexico and Thailand. Transformer production will be moved to Hong Kong, Tokyo-based spokesman Akira Kadota was quoted as saying.