Panasonic wants to buy a manufacturer of automotive lighting ZKW, estimated at $ 1 billion

Panasonic in talks to purchase a European manufacturer of automotive lighting ZKW Group. It is expected that this move will help the Japanese manufacturer to enter the automotive electronics market. Now the achievement of Panasonic in this area are limited to the production of batteries and navigation systems.

As stated, the agreement in principle reached by the parties. The sum of transaction can reach $ 1 billion.

The company ZKW with headquarters in Austria has the production facilities in this country and in the Czech Republic, Slovakia, India, China, USA and Mexico. The total number of employees ZKW — about 5900 people.

Panasonic did not comment on a possible purchase.

Source: Reuters

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