NEW YORK Nov 19 Panasonic Corp (6752.T) will centralize production of plasma panels by the end of the year as part of an internal reorganization to increase cost competitiveness and cut production costs by up to 4 billion yen a year, The Nikkei financial daily reported.
The report said the company currently makes 65-inch plasma panels at a plant in Ibaraki, Osaka Prefecture, and produces all other sizes at two factories in Amagasaki, Hyogo Prefecture. It said the company would now produce all sizes at the Amagasaki facilities.
The report said Panasonic intends to concentrate development and testing of flat panels at the Ibaraki site. It plans to establish a new development segment for LCD panels there next fiscal year, the report said. (New York Equities Desk, + 1 646 223 6000; editing by Gunna Dickson)