BINH DUONG, Vietnam--(BUSINESS WIRE)--Panasonic Corporation today announced that it will expand its wiring devices and circuit breakers factory of Panasonic Eco Solutions Vietnam Co., Ltd. (PESVN), located in Binh Duong Province of the Socialist Republic of Vietnam. An additional factory building will be constructed adjacent to the existing factory to enhance its responsiveness to the rapid increase in demand for wiring devices and circuit breakers in Vietnam in the recent years. The groundbreaking ceremony was held on February 25th. Takashi Ogasawara, Power Components Business Unit Director, Energy Systems Business Division, Eco Solutions Company in Panasonic Corporation, and Takashi Ogura, General Director of Panasonic Eco Solutions Vietnam Co., Ltd. attended the event.
The Vietnamese plant launched full-scale production in November 2014 as a new manufacturing site for wiring devices and circuit breakers in Southeast Asia, following the ones in Thailand and Indonesia. The new factory will be built on a 3,000-square-meter area adjacent to the existing factory to substantially expand the production capacity of wiring devices and circuit breakers. Currently, the existing factory produces approx. 53 million wiring devices and approx. 13 million circuit breakers annually. With an additional factory, the plant aims to double its production capacity in FY2020. There are also plans to explore the purchase of an area of approx. 18,000 square meters adjacent to the current factory premises to add to the factory in the future in order to address any further increase in demand.
With the current addition of a factory and a further expansion plan, the plant aims to supply wiring devices and circuit breakers produced in the Vietnamese plant to local markets and other Southeast Asian countries.
Overview of the new factory
|(1)||Production items: Wiring devices and circuit breakers|
|(2)||Investment amount: Approx. 1 billion JPY|
|(3)||Production capacity: Twice the current production capacity including the existing factory (to be achieved by FY2020)|
|(4)||Land area: 3,000 m2|
|(5)||Total floor area: 6,000 m2|
|(6)||Location: Industrial Park VSIP II-Annex, Binh Duong Province, the Socialist Republic of Vietnam|
|(7)||Start of construction: February 25, 2017|
|(8)||End of construction: October 31, 2017 (scheduled)|
Overview of Panasonic Eco Solutions Vietnam Co., Ltd.
|(1)||Company name: Panasonic Eco Solutions Vietnam Co., Ltd.|
|(2)||Location: Industrial Park VSIP II-Annex, Binh Duong Province, the Socialist Republic of Vietnam|
|(3)||Establishment date: January 2, 2013|
|(4)||Representative: Takashi Ogura|
|(5)||Outline of business: Production of wiring devices, circuit breakers, etc.|
|(7)||Number of employees: Approx. 900 (as of the end of January 2017)|
|(8)||Sales: Approx. 920 billion VND (FY2016 forecast)|
Panasonic Corporation is a worldwide leader in the development of diverse electronics technologies and solutions for customers in the consumer electronics, housing, automotive, enterprise solutions and device industries. Since its founding in 1918, the company has expanded globally and now operates 474 subsidiaries and 94 associated companies worldwide, recording consolidated net sales of 7.553 trillion yen for the year ended March 31, 2016. Committed to pursuing new value through innovation across divisional lines, the company uses its technologies to create a better life and a better world for its customers. To learn more about Panasonic: http://www.panasonic.com/global.