Matsushita shuts Thatcham fab

Mobile phone production goes East...
Written by Heather McLean, Contributor

Mobile phone production goes East...

Matsushita Communications is to close its second mobile phone factory in the UK and move production to the Czech Republic after posting first-ever losses. The subsidiary of Matsushita Electric Industrial has announced its first six-month losses and the closure of a factory in Thatcham, Berkshire. Matsushita Communication predicted losses of Y30bn ($246.6m) for the year ending 31 March 2002. Thatcham is the second mobile phone factory to be shut by the company following its decision to close a plant in Portsmouth in February 2002. Of the 350 workers at Thatcham, some may be transferred to other plants around the country but Matsushita refused to comment on how many. Manufacturing at the cheaper Czech plant is expected to begin in April 2002. The company said the UK closures will not affect its full-year earnings as costs were included in its annual profit target.
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