Panasonic to transfer PV panel production to Malaysia - report

Jul 30, 2012 - Japanese Panasonic Corp (TYO:6752) plans to reduce photovoltaic (PV) panels production in Hungary and cease panel operations in Mexico, and to relocate production to Malaysia, Kyodo said Sunday, citing sources in the know.

Thus, the electronics firm aims to enhance profitability amid the intense competition in the solar panel sector which has pushed down prices.

Panasonic will no longer produce some items with low-profit margins in Hungary from October. In Mexico, the company expects to stop production of PV panels for North America in August, but to continue producing lithium ion batteries and other products.

The new PV plant in Malaysia is expected to become operational in December.

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