Panasonic carving out its Slovak plants

Japan’s Panasonic agreed to sell its European Power and Battery Control Solutions business, including its manufacturing operations in Slovakia, to US investment firms Midas Atlantic Partners and The Najafi Companies. The carve‑out will allow Panasonic to focus on its core business portfolio. The company has plants in Trstená and Stará Ľubovňa, which generated €567m in sales last year and produce electronics and battery components. Panasonic stressed that it is not closing its Slovak facilities.

(businesswire.com)