|
|
Article: Panasonics Parent Matsushita to Make Matsushita Electric Works Subsidiary.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 19, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Dec. 19--OSAKA, Japan--In a deal to create the biggest electronic and electrical equipment maker in Japan in terms of consolidated sales, Matsushita Electric Industrial Co. said Friday it will make Matsushita Electric Works Co. a subsidiary through a friendly public tender offer.
The deal is aimed at reinforcing the two companies' cooperative relationship as core members of the Matsushita group in order to overcome difficult business conditions such as weak domestic demand and worldwide price-cutting competition, they said in a joint statement.
With Matsushita Electric ...