Panasonic to become majority owner of Spanish FicosaStaff Writer | March 21, 2017
Panasonic said it has agreed to become majority owner of Spanish auto parts maker Ficosa International to push into the automotive field.
Technology Electronic automotive mirrors
Panasonic, which bought 49 percent of Ficosa in 2015, did not disclose the value of the deal, which it said would be complete by the end of April pending regulatory approval.
Panasonic said it does not expect any substantial impact on earnings from the deal.
The move comes as Panasonic shifts focus to corporate clients to escape price competition in lower-margin consumer electronics. ■