Nellore: Panasonic Life Solutions India, a wholly-owned subsidiary of Panasonic Corporation, announced on Thursday the opening of its new manufacturing facility in Sri City, Andhra Pradesh.
The facility aims to strengthen the company’s presence in the Southern Region and develop market synergies by providing swift material deliveries to customers.
The ‘highly automated’ unit is spread over 133,584 sq mt and currently covers a floor area of 37,025 sq mt.
This will be the company’s first electrical equipment manufacturing base in Southern India and seventh in India followed by facilities in the north and west regions.
The company will be making a total investment of Rs 600 crore in two phases, the first phase of Rs 300 crore has been made.
Through this facility, the aim is to support the infrastructure development, create employment opportunities, and industrial development in Andhra Pradesh.
Addressing the occasion, Mr Kawamoto, Business Unit Head – Power Component Business, Panasonic Corporation, Japan. added that, “India is on a growth trajectory and this growth will need tremendous support from the ECM industry for people to 'live their best.'
Mr Kazuki Yao, Managing Director, Panasonic Life Solutions India Pvt Ltd said, “As a global leader in electrical construction materials, providing the most comprehensive electrical portfolio across the entire value chain, India being one of the fastest-growing economies in the world is an important market for PLSIND.
