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Friday, March 29, 2024

Panasonic eyes strong growth

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Panasonic Manufacturing Philippines Corp. said Thursday it expects to double production of consumer goods over the next five years.

Company chairman and president Nobuo Yasuhira said the goal was to produce 300,000 units per product of refrigerators, air conditioning units, television sets and washing machines, annually.

“Both our plants in Sta. Rosa and Taytay have provisions for expansion. Growing the volume is not difficult for us and we are very excited to make this happen,” he told reporters at the InterContinental Hotel Manila in Makati City.

Company sales climbed 107 percent to P6.5 billion in fiscal year ending April 2015.  About 65 percent of sales were from white lines, led by air conditioning units at 35 percent and refrigerators at 30 percent.  The company also exports window-type air conditioning units to Hong Kong and Africa.

Panasonic brought the production of most consumer goods and business to business products to the Philippines, Vietnam, Malaysia and China.  It retained the production of its computers in Japan.

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The company said it expected to grow its B2B segment by  6 percent in the current fiscal year, given the potential of the Philippine market for new business solutions.

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