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Matsushita expands in Vietnam
OSAKA, Japan (Reuters) -- Matsushita Electric Industrial Co, the world's second-largest consumer electronics maker, said on Friday it would set up a subsidiary in Vietnam in September to make and sell electronic appliances. The company said it would invest two billion yen ($16.7 million) in the new firm, which will be capitalized at 900 million yen. The subsidiary will produce washing machines, refrigerators and other consumer electronics for sale in Vietnam and export markets. Matsushita has had a plant in Vietnam since 1996 where it makes audio and video products.
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