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Matsushita Electric to found financial unit in Amsterdam
(Kyodo News International (Tokyo) (KRT) Via Thomson Dialog NewsEdge) Mar. 27--OSAKA -- Matsushita Electric Industrial Co. said Monday it will establish a new unit in Amsterdam in May to undertake the Matsushita group's fund and foreign exchange transactions on a global basis.
Panasonic Global Treasury Center B.V. will unify the Matsushita group firms' current regional financial transactions to improve the group's financial efficiency and reduce costs, the company said.
Capitalized at $500 million to be put up fully by Panasonic Holding Netherlands B.V., the new firm will launch operations in September, it said.
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