OSAKA, Japan--(BUSINESS WIRE)--On November 15, 2014, Panasonic Corporation announced that Panasonic Eco Solutions Vietnam Co., Ltd. (PESVN) celebrated the grand opening of its new wiring device and circuit breaker factory and started full-scale production in Binh Duong Province, Socialist Republic of Vietnam.
[Flash Report] New Wiring Device and Circuit Breaker Factory Starts
Following its counterparts in Thailand and Indonesia, the new factory will supply products mainly to the local market in Vietnam as a new wiring device and circuit breaker manufacturing base in Southeast Asia. In FY2014 (the fiscal year ending March 31, 2015), the factory plans to produce 30 million wiring devices and 5.15 million circuit breakers. The production capacity is anticipated to double in FY2018 (the fiscal year ending March 31, 2019) for both products.
Takashi Ogura, General Director, Panasonic Eco Solutions Vietnam said, "We will focus on the Vietnamese market, which has the potential for remarkable growth, and deliver high quality electrical construction materials and equipment to ensure safety when people use electricity in this region, and therefore we will contribute to the progress and development of society and economy as well as more affluent living. We will also make further efforts to build a factory that can attract many visitors, including distributors, developers, and construction companies."
The new factory is environmentally conscious as demonstrated by the adoption of Panasonic's energy-saving and energy-creating products, including photovoltaic power generation systems, LED lighting products, and motion sensor lighting control systems. The factory makes extensive use of technologies and manufacturing expertise fostered in Japan such as through the use of leading-edge production facilities, which enable fast and flexible production. We will also use the factory as a showroom to allow visitors to experience our high quality manufacturing. Leveraging this advanced factory as a core manufacturing base, Panasonic will proceed with a "local production for local consumption" business to address the increasing demand for electrical construction materials and equipment in Vietnam.
(1) Company name: Panasonic Eco Solutions Vietnam Co., Ltd.
(2) Address: Industrial Park VSIP II-Annex, Binh Duong Province, Socialist Republic of Vietnam
(3) Date of establishment: January 2, 2013
(4) Capital: 396 billion Vietnamese Dong (Equivalent to approximately 2.02 billion Japanese Yen)
(5) Major shareholder and shareholding ratio: Panasonic Vietnam Co, Ltd. holds 100%.
(6) Business: Production of wiring devices and breakers, etc.
Summary of the New Factory
(1) Total floor area of building: Approximately 8,941 square meters (Factory buildings)
(2) Number of employees: Approximately 670 (As of the end of October 2014)
(3) Production capacity: Wiring devices 30 million units for the first year, breakers 5.15 million units for the first year
Panasonic Eco Solutions Company, Panasonic Corporation
Product: Panasonic's Eco Solutions