Panasonic Automotive forms company in Thailand

Panasonic Automotive Systems Company, a division of Matsushita Electric Industrial Co. Ltd., has formed Panasonic Automotive Systems Asia Pacific (Thailand) Co., Ltd. in the Kingdom of Thailand to serve customers in India, Thailand, Indonesia, Malaysia, the Philippines and Vietnam.

The firm said Thailand has become the fourth largest exporting country in the Asian market for completed vehicles and components following Japan, Korea and China. Within the region that the new firm will cover, automobile manufacturers project a growth in production and exports from 3.5 million vehicles in fiscal 2005 (ending March 2006) to more tha 6 million vehicles in fiscal 2010 (ending March 2011).