Given the challenging global business outlook and following Panasonic’s long-term business strategic review of the refrigeration compressor business portfolio, we will cease the manufacturing of refrigeration compressors in Singapore by the end of September 2022. Panasonic will consolidate the compressor manufacturing operations to our existing facilities in Malacca (Malaysia) and Wuxi (China), including the casting operation over to our current factory in Malacca (Malaysia).
Panasonic Appliances Refrigeration Devices Singapore has established its reputation as one of the major refrigeration compressor manufacturers globally for over the past 49 years of operation in Singapore, manufacturing energy-efficient inverter compressors for fridges, water coolers, and vending machines. Our R&D will remain its operation in Singapore, and we will continue to serve as the global headquarters of the refrigeration compressor business.
There are a total number of 700 employees who will be affected by this review process. We are working very closely with the relevant authorities, government agencies, and United Workers of Electronics & Electrical Industries to ensure all affected employees are well-supported during this transition, including assisting with job placements.
Singapore remains a regional and important hub for Panasonic. The Panasonic group in Singapore will continue to have more than 1,400 employees across various business domains, including high-value manufacturing, R&D and our Asia Pacific Headquarters. We will continue to invest in Singapore to support our growth strategies in the high-value supply chain and continue contributing to the communities in the Asia Pacific and beyond.
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