June 14th 2006

Panasonic Closes Germany Factory

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The DVD recorder price war has taken another victim and this time it's a Panasonic factory.

Parent compant, Matsushita Electric Industrial, said Tuesday it planed to close operations at its Panasonic AVC Networks Germany GmbH unit at the end of March 2007 due to increased global competition and sharp price declines.

Product development will be switched to Panasonic's Japanese operation, with European manufacturing continuing in Slovakia.

Source: Chron.com