Matsushita to relocate, cut jobs

August 27, 2003 – Matsushita Electric Industrial Co. says it will transfer the manufacturing operations of its electronic motor company from Japan to China, cutting 1,100 jobs, as part of a larger restructuring plan.

While the deal will dissolve two plants run by Takefu Matsushita Electric Co. and National Micro Motor Co., product engineering, design, and R&D operations will continue to be run out of Japan.

Matsushita’s new manufacturing operations in Hangzhou and Zhuhai will each receive approximately $13.5 million in initial investments, with sales estimated at $50 million. By mid-2005 the two will nearly double Matsushita’s domestic manufacturing capacity.


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