25 September 2018

Panasonic to sell chip plants in China, Indonesia, Kyodo says

Japan’s Panasonic Co. plans to sell its chip plants in China and Indonesia to focus on markets where it is more competitive, Kyodo news agency reported Wednesday, citing unidentified sources. The company will also sell majority stakes in three domestic chip plants to Israel’s chipmaker Tower Jazz. It will shed 50 percent of the workforce in its chip business, mostly overseas, the report said.

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