Panasonic closes solar plant, cuts jobs

Japanese electronics giant Panasonic said Friday it will close its only European solar cell plant in Hungary, resulting in the loss of 550 jobs.

The assembly factory in the city of Dorog will end production in September before its official closure in March, a Panasonic spokeswoman in Tokyo said.

But the firm will maintain its overall global solar cell production level by moving the European workload to other solar cell factories in Japan and Malaysia.

The decision came as the European solar cell market shrinks, partly due to cuts in government subsidies.

Japanese market solar cell market has grown, thanks to public incentive programmes for renewable energy.

“This sector constantly experiences dramatic changes of demand. Our decision is to deal with the changes in the sector,” the spokeswoman said.

“We wanted to increase our cost competitiveness and profitability,” she said.

More Panasonic news

Panasonic investigated for bribery

Panasonic pegs $2.7 billion restructure

Panasonic to drop plasma TVs?

Who is the world’s largest display maker?

Latest news

Partner Content

Show comments

Follow us


Panasonic closes solar plant, cuts jobs