Panasonic invest 160 million U.S. dollars to establishment of air-conditioning plant in India

SAN FRANCISCO April 16, the Japanese consumer electronics giant Matsushita Electric, said this week, the company will invest 160 million U.S. dollars to establish an air-conditioning plant in India to increase the local sales volume. According to the objectives set by Matsushita, the company plans to the Indian market within the next three years, sales increased to five time’s current levels.

Matsushita spokesman Akira Kadota said the investment plans in India in line with Matsushita's overseas business expansion strategy. Kakuda pointed out that, according to Matsushita Electric set development goals, in March 2013 before the sales of the company's overseas market share in the total revenue will rise to 55%. At present, the overseas market sales in Matsushita Electric's share of total revenues 47%.

The investment will build on the Indian air-conditioning plant in northern Ha Yana province. If all goes well, the plant will officially put into operation in 2012.

Kakuda also noted that Matsushita will continue to increase investment in the Indian market. Kakuda said that starting from the 2010/2011 fiscal year, the three fiscal years, Matsushita Electric plans investment in India totaled about 320 million U.S. dollars. Kakuda also pointed out that prior to March 2013; Matsushita Electric's annual sales in the Indian market will reach about 30 billion U.S. dollars. Currently, Matsushita's sale in the Indian market is only about 5 billion U.S. dollars.