Panasonic consolidates Chinese JVs

CHINA: Japanese refrigeration equipment manufacturer Panasonic has consolidated two of its Chinese joint venture businesses.

Described as a reinforcement of the organisational structure of its Chinese cold chain business and as part of a global rollout, Panasonic has combined Panasonic Appliances Compressor (Dalian)(PAPCDL) and Panasonic Appliances Cold Chain (Dalian) (PAPCCDL) to form Panasonic Appliances Refrigeration System (Dalian).

The new company will will be responsible for the development, manufacturing, sales, construction, maintenance, as well as servicing of its food distribution and low temperature distribution business.

With demand from supermarkets and convenience stores expected to rise in China, Panasonic says the new business will aspire to become the No1 refrigeration company in China.

According to the Nikkei, Panasonic aims for sales of large refrigeration systems in China to reach 1 billion yuan ($150m) by 2020.