TOKYO (AP) - Japanese electronics maker Matsushita Electric Industrial Co. will work with Toray Industries to build a 95 billion yen (US$833 million) plant for plasma display panels, targeting a leading position in the rapidly growing market for flat-TVs.
Matsushita Plasma Display Panel Co., which is 75 percent owned by Matsushita and 25 percent by Toray, a Japanese textile and chemicals maker, plans to start production at the new factory in western Japan in November 2005, both sides said in a statement.