Panasonic Finalizes Automotive Unit for Europe

Panasonic Corp. has completed plans to centralize European operations through its new Panasonic Automotive & Industrial Systems Co. Europe unit. The new organization aims to double revenue in the region by fiscal 2018.

Panasonic began setting up PAISEU at the beginning of the year. The organization combines Panasonic Automotive Systems Europe, Sanyo Components Europe and Panasonic Industrial Devices Sales Europe. It also absorbs as a subsidiary Panasonic Electric Works Europe.

Combining the four entities creates a company with nearly 1,300 employees in Germany and several thousand more elsewhere in Europe.