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© mariusz szachowski dreamstime.com Electronics Production | October 03, 2014

Panasonic forms new Automotive & Industrial Systems Company

Panasonic Europe has finalised the creation of its new Automotive & Industrial Systems Company.
Panasonic Automotive & Industrial Systems Company Europe (PAISEU), headed by Dr. Wilhelm Steger as President since the beginning of this year, has been created to centralise the company’s business-to-business strategy within Europe and drive revenue within the automotive and industrial sectors.

Steger has the financial goal to double revenues by FY2018 (31 March 2019), the company’s 100th anniversary, based on the results of the last financial year.

The formation of PAISEU brings together the formerly separate legal entities of Panasonic Automotive Systems Europe, Sanyo Components Europe, Panasonic Industrial Devices Sales Europe, and – as a subsidiary and still separate legal entity – Panasonic Electric Works (PEW) Europe.

The formation of PAISEU – including its subsidiary PEW – will create a business with more than 1'250 employees in Germany and several thousands in Europe.

Laurent Abadie, Chairman and CEO, Panasonic Europe commented: “The automotive and industrial sectors are key growth markets for Panasonic in Europe. The strong focus of our company into new and existing business-to-business markets is a huge step for Panasonic Europe. The formation of PAISEU enables us to further develop and offer innovative solutions to these markets. We have already demonstrated that our expertise is unparalleled in areas such as battery technologies for industrial customers, car manufacturers and within the home. Small but key components and devices from Panasonic also serve modules and systems of leading manufacturers all over the world whereas our big manufacturing machines keep productions of global corporations running. And our automotive business is particularly strong in in-car entertainment, energy and driving assistance solutions. From an overall European Panasonic business perspective, our strong brand awareness and expertise in the consumer business complements effectively Panasonic’s activities in the PAISEU customer segments. I am confident that we will see PAISEU make a significant and strong impact to Panasonic’s business in Europe in the months and years to come.”

Dr Wilhelm Steger, President of Panasonic Automotive & Industrial Systems Europe, added: “With today’s final step of inauguration of PAISEU, we are able to combine highly advanced technologies with the expertise of our employees from across the four consolidated businesses. As a result, we will be providing and developing new technologies and solutions that range from individual components to end-to-end modules and systems. The formation of PAISEU demonstrates our long-term commitment to this sector, while aiming to be recognised as the most suitable business partner for our customers.”

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