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| Panasonic plans to change the trade name to Panasonic System Networks Co., Ltd. |
Simon Wright, Deputy Managing Director of PSNE, explains the advantages of the merger which is aimed at converging company expertise: "The amalgamation of experience and expertise will support Panasonic's strategy to unite communications and security networking products. The net result is aimed at driving a strong competitive edge for Panasonic and their customers through the delivery of products that are designed for the new network age. In turn this will also benefit business scalability for the new organization; Panasonic System Networks Europe, giving stronger solutions to our customers."
Explanation of specific changes:
Purpose of business reorganisation and integration
Panasonic System Solutions has an edge in the visual business while Panasonic Communications Company has an advantage in the communication business. In response to a trend in demand and expectation that is gradually moving away from analog towards digital CCTV, communications and peripheral products, Panasonic will reorganise and integrate PSS and PCC to promote more effective management of resources and management structure improvement. The business reorganisation will mark a new phase of business which unifies audio, imaging, visual and data in IP networks and is aimed to support business expansion mainly in emerging markets.
Details of business division
Panasonic plan to transfer the rights and obligations with respect to the business of PSS to PCC and change PCC's trade name to Panasonic System Networks Co., Ltd. as of January 1, 2010.
