December 22nd, 2008
By Tom Kessler
Green Right Now
In another sign that it intends to become a green business leader, Panasonic Corp. has announced a $9 billion offer to acquire a majority stake in Sanyo Electric Co., a top manufacturer of green technology products.
A combination of the two Japanese companies would result in product efficiencies and potential cost-savings as they merged their huge electronics and appliance businesses.
But the real opportunity for Panasonic may well be Sanyo’s growing leadership in green products such as batteries and photovoltaic cells. Sanyo is the largest manufacturer of rechargeable batteries for portable devices such as laptops, digital cameras and mobile phones. And the company is poised to expand into the auto industry if the move to hybrid and electric cars continues.
Sanyo also is the world’s seventh-largest solar panel manufacturer. With this acquisition, experts believe Panasonic could take control of the fast-growing solar panel industry that has thus far been dominated by many smaller companies.
Panasonic, previously known as Matsushita Electric Industrial Co., Ltd, has been making its own steady movements toward a greener stance. In October, it launched its Global Eco Relay Campaign with a goal of implementing environmental sustainability in all aspects of Panasonic’s companies around the world. The program also encourages employees to participate in such activities as beach and park clean-ups, tree plantings and building natural habitats for local bird species.
The company also announced in October that it would join Sharp Electronics Corporation and Toshiba America Consumer Products, LLC, to create a national recycling infrastructure to help consumers find convenient recycling centers.
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