01 November 2015
Panasonic to sell its lead batteries production business
Panasonic Corporation announced the sale of the battery business as part of restructuring, involving a Japanese company focus on the most profitable markets. As reported by Reuters, citing a statement by Panasonic, the company sells the business associated with the development, manufacture and sale of lead-acid batteries, the Japanese competitor GS Yuasa. The cost of the transaction, which is expected to close in April-June 2016, will be 30 billion yen (about $ 250 million). This sends 3DNews.
The unit Panasonic, responsible for the production of lead batteries, has about 1,500 employees. In the past fiscal year, closed in March 2015, revenues of this business amounted to 50 billion yen ($ 416.7 million).
Lead-acid batteries are used in cars, video surveillance systems, electric tools, UPS and others. Panasonic sees no need to continue production of these products and intends to focus on the production of lithium-ion batteries used in consumer electronics and electric vehicles. However, the business and the company is reduced.
In the summer of 2015 Panasonic has closed a factory for the production of lithium-ion batteries and fired 1,300 workers of the company. We are talking about a factory in Beijing, which started in 2000 and went to the corporation with the acquired in 2009 by Sanyo Electric.