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Panasonic to sell Ibaraki plasma TV panel factory site

February 17, 2014



OSAKA, Feb. 18 -- (Kyodo) _ Panasonic Corp. is considering selling the former site of its plasma television panel development plant in Osaka, as the electronics maker has decided to withdraw from the plasma TV business, sources close to the matter said Tuesday.

The company may consider renting out part of the 120,000-square-meter site to Yamato Transport Co. The city of Ibaraki, where the facility is located, is also showing interest in acquiring the land, they said.

The production of plasma display panels began in 2001 at the plant, but it later became a base for assembling TVs and developing display panels after the company transferred plasma display panel production to its Amagasaki plant in Hyogo Prefecture in fiscal 2008.

Most of the roughly 500 employees at the Ibaraki plant will be transferred to Panasonic's Himeji plant in Hyogo Prefecture, which manufactures liquid crystal display panels.

Due to the sluggish plasma TV business, Panasonic incurred a massive group net loss for the second straight year in fiscal 2012 ended March 2013.

The company is also in the final stage of talks with a real-estate investment advisory company in Tokyo to sell part of its Amagasaki plasma display panel factory building.

The Ibaraki plant started operation in 1958 as a production base for color cathode-ray tube televisions.


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Source: Japan Economic Newswire


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