philippine news

Feb 14, 2006

Panasonic to shelve irons, oven toasters

Jenniffer B. Austria
Manila Standard

Panasonic Manufacturing Philippines Corp. (PMPC), a unit of Japan?s Matsushita Electric Industrial Co., will stop production of convenience products due to rising cost of raw materials and stiff competition from China.

PMPC said in disclosure to the Philippine Stock Exchange that it would halt manufacturing oven toasters, electric iron and electric stove by the end of May this year.

?This decision is due to continuing decline in market share…

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