At the beginning of this 2013, Panasonic Eco Solutions Company announced the establishment of a new company, Panasonic Eco Solutions Vietnam Co., Ltd. (PESVN), in Binh Duong province in Vietnam. The announced company would assume responsibility for the new factory that is being built on-site to manufacture wiring devices and circuit breakers targeting the Southeast Asian market with focus on the Vietnamese domestic market, with production scheduled to commence in April 2014. The initial production capacity for wiring devices will be 27 million units in fiscal year 2014, but this figure will be doubled by Panasonic's 100th anniversary of its founding in 2018.
- Groundbreaking Ceremony for the New Panasonic Eco Solutions Vietnam Factory
- Panasonic Management Breaks into the Ground of the New Factory
The groundbreaking ceremony for the new factory was held on April 15,2013. To commemorate the occasion, top management from Panasonic Eco Solutions as well as local management executives from Panasonic in Vietnam attended the occasion.
- Panasonic Eco Solutions Company Senior Managing Officer Tamio Yoshioka
Panasonic Eco Solutions Company Senior Managing Officer Tamio Yoshioka of the Energy Systems Business Division gave an address at the start of the ceremony in which he expressed his great expectations for the new company, saying,
"Vietnam is expected to enjoy dramatic economic growth over the coming years. In building this new factory here, I want us to make an ever greater contribution to this country."
This was then followed by a Buddhist ritual and the actual groundbreaking followed by a toast to conclude the occasion.
- Explanation of the New Factory
With the economic development in Vietnam and the rest of Southeast Asia, it is expected that demand for electrical materials and equipment such as wiring devices and circuit breakers will increase significantly. As such, the new company will promote a business of "local production for local consumption" with the establishment of a fast, flexible production setup.
Based on technologies and know-how cultivated in Japan, the company will contribute to the Vietnamese electrical materials and equipment market with true Panasonic-style product development- designed to bring safe, secure, comfortable, and eco-friendly lifestyles to people around the world.