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© mopic-_dreamstime.com Electronics Production | November 27, 2013

Panasonic looking to sell off chip plants?

Panasonic is reportedly planning to sell three of its main Japanese chip plants to Israeli TowerJazz. Additionally, the company is looking at the possibility of selling five other plants.
Sources with direct knowledge of the matter told Reuters, that the deal is expected to happen before the end of Panasonic's fiscal year. No sales figures were mentioned and both companies have declined to comment on the matter.

Panasonic has been dismantling unprofitable operations,this includes smartphones as well as TVs. And now, semiconductors is the next segment the company is retrenching.

However, the three Japanese chip plants are not the only ones up for sale. Panasonic is also looking to sell the remaining five plants located in Indonesia, Malaysia and Singapore, and the Panasonic is already in talks with another unidentified company, the same source told Reuters.

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