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Panasonic Corp to make semiconductor business a joint venture with Tower Semiconductor Ltd

Friday, 20 Dec 2013 02:30am EST 

Panasonic Corp:Says it will establish a new subsidiary in Mar. 2014.Says it will transfer the semiconductor wafer manufacturing business in plants in Hokuriku area to the new subsidiary.Says it will transfer a 51 pct stake in the new subsidiary to Tower Semiconductor Ltd on Apr. 1, 2014.Says the new subsidiary will become a joint venture with Tower Semiconductor Ltd. 

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