BRAZIL: One car audio plant closing, another opening
Matsushita Electric has said it will close a car audio plant in Brazil as it reorganizes its business to cope with falling electronics prices.
According to Bloomberg, the company will shut Panasonic Electronics Devices do Brasil by the end of April and fire the unit's 190 employees by September.
Matsushita will end production of car parts in Brazil, relocating the manufacturing of car speakers to its factories in Mexico and Thailand and transformer production to Hong Kong.
Separately Pioneer, Japan's biggest maker of car-navigation devices, said yesterday it would build a new factory in Brazil and double output of car audio and video players to meet demand.