Business News | Nov 24, 2010

Panasonic Electric Works Vossloh-Schwabe Establishes New Company in Republic of Serbia to Manufacture Energy-efficient Electronic Devices for Lighting Equipment

Panasonic Electric Works Vossloh-Schwabe GmbH (head office: Lüdenscheid, Germany, CEO: Klaus Breisch) established a new company in Svilajnac, the Republic of Serbia, to manufacture energy-efficient electronic devices for lighting equipment. The new company is named Panasonic Electric Works Vossloh-Schwabe Serbia d.o.o. The investment amount in the financial year 2010 is approx. EUR 580,000. Mass production will commence in January 2011, to enhance lighting device business in Europe, where energy efficiency improvement efforts are well under way.

The new company is a wholly owned subsidiary of Panasonic Electric Works Vossloh-Schwabe GmbH (PEWVS) that manufactures and sells lighting devices. Panasonic Electric Works, Japan acquired PEWVS to make the company a subsidiary in 2002. The capital of the new company is EUR 1 million. Establishment of the new company is intended to enhance production capabilities of electronic ballast production in the Republic of Serbia. This is the first time the Panasonic Group has launched a manufacturing facility in the Republic of Serbia.

 In Europe, ErP Energy-Related Products Directive is expected to drive the shift in demand from incandescent lamps to fluorescent lamps and LEDs, thereby increasingly requiring electronic control of lighting devices. Panasonic Electric Works Vossloh-Schwabe will first give priority to upgrading electronic ballast production capabilities, with a view to developing its business in LED devices, in an effort to further expand the energy-efficient lighting devices business in Europe.

 Overview of the new company
Name of the new company:             Panasonic Electric Works Vossloh-Schwabe Serbia Location:                                           Svilajnac, the Republic of Serbia
Established:                                      November 2010
Ratio of capital investment:              PEWVS (Germany) 100%
Capital:                                              EUR 1 million
President:                                          Dirk Pophanken
Number of employees:                      approx. 60 in Financial Year 2010 (plan)
Main production item:                        electronic ballasts
Plant area:                                         2,250 m²