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Panasonic and Sanyo Plan Talks to Make Sanyo a Subsidiary
Panasonic and SANYO Electric have agreed to start discussions for a capital and business alliance that would see Sanyo becoming a subsidiary of Panasonic. The companies hope to maximize both companies' corporate values by pursuing synergies and further strengthening initiatives to achieve potential revenue and profit growth through this alliance.
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Thomson to Exit Phone Business
Thomson has decided to exit its retail telephony activities in North America. Thomson supplies GE-branded phones in the U.S. The plan calls for the elimination of its telephone-related division at its Carmel, Ind., facility and laying off of more than 70 employees by summer of 2009 and another 70 workers worldwide. Thomson will still have 450 employees based in Carmel after the layoffs, primarily in the set-top box business.
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Thermal Engineering Report: Dissipating Heat in Electronics
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GE Plans for HFC-Free Home Refrigerator
GE has submitted information to the Environmental Protection Agency (EPA) in connection with its request for approval to use isobutane as a refrigerant in household refrigerators. The petition was filed under the Significant New Alternatives Policy (SNAP)(a) program which evaluates alternatives to substances being phased out under the Clean Air Act for protection of the stratospheric ozone layer.
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Carrier Earns Award for CO2 Refrigeration Systems
Carrier Corp., a unit of United Technologies Corp. based in Farmington, Conn., won the Environmental Pioneer award in the Refrigeration category at the 2008 Cooling Industry Awards.
Among its claims to pioneering this technology is Carrier Commercial Refrigeration's installation of the largest transcritical CO2 refrigeration system in the world. Carrier equipment cools food in a hypermarket in Northern Germany, where three high temperature (HT) packs with total capacity of 670 kW and two low temperature (LT) packs with capacity of 130 kW were installed.
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LG Electronics to Invest in Solar Cell Production Line
LG Electronics decided at its board of directors meeting held on October 20 to convert its A1 plasma panel-manufacturing line in Gumi, Korea, into solar cell production lines.
LG plans to invest KRW 220 billion by 2010 to establish two production lines. The company expects that the first line will be able to begin mass production from the first quarter of 2010, with the second line beginning full operations in the first quarter of 2011. Both lines will manufacture crystalline silicon solar cells and modules with a capacity of 120MW each.
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Circuit City to Reorganize Under Chapter 11
Circuit City Stores has filed a voluntary petition for reorganization relief under Chapter 11. The announcement comes after last week's announcement that it planned to close 155 stories nationwide.
Operating under the protection of Chapter 11 will provide the company's vendors with assurances that they will be paid for merchandise the company receives post-filing so the company can be sufficiently stocked for the holiday selling season. Further, the company intends to create a restructuring plan that should allow Circuit City to emerge as a stronger business with an improved national distribution channel for its vendors and a more compelling offering for its customers.
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Whirlpool Announces Layoffs, Plant Closures
Whirlpool of Benton Harbor, Mich., announced layoffs and additional facility closures in anticipation of continuing worldwide economic difficulties. In anticipation of this environment, the company plans to reduce its global workforce by approximately 5,000 positions by the end of 2009. In addition to the four facility closures the company announced earlier this year, the company's Jackson, Tenn., facility is scheduled to close and production is to be transferred to Whirlpool's Findlay, Ohio, location."
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