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Panasonic confirms talks with Sanyo

Panasonic has confirmed talks have begun on making Sanyo a subsidiary within its global business.

Panasonic and Sanyom who both manufacture air conditioning units, have now established a project team to lead intensive discussion on the potential capital and business alliance with details set to be released at the end of December 2008 if not earlier.

In a joint statement the companies said: “Through this capital and business alliance we aim to share both companies' management know-how and business resources while collaborating with each other, thereby creating a global competitive foundation which will maximize corporate values of both Panasonic and Sanyo.

“In the Energy Business Domain, both Panasonic and Sanyo, will be able to utilize their complementary technology by cooperating with each other in order for both companies to contribute to the development of the rechargeable battery market as well as its provision of global sales networks in order to expand SANYO's solar and energy businesses.

“In the Electronics Business Domain and the Ecology Business Domain, we can both expand the range of products and mutually utilize each other's sales channels, in each of the digital, commercial, device and white goods businesses included in these domains. Moreover, we can aim to reduce the production and development cost through technical collaboration.”

Other advantages detailed by the companies include joint procurement, cost reduction and the exploitation of Sanyo’s innovative mass production techniques.