Panasonic Buys Sanyo To Boost Solar & Battery Production

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Sanyo and Panasonic have been in talks for a while now, but recently they’ve come to a decision regarding their potential partnership.
Panasonic has agreed to buy Sanyo for $9 Billion (800 Billion Yen) by means of a public tender offer.
The deal will finalize in February with Sanyo joining the Panasonic Group. Organizational restructuring will, of course, follow.
What’s really important about this team-up is the potential solar/battery giant it will create. Sanyo has a huge solar-panel business going and is already a main-stay in the rechargable battery front.
Panasonic is looking to boost their sales in an extreme way by expanding into the development of highly efficient HIT (crystalline silicon) solar photovoltaic cells. On the battery side, the two companies will exchange production secrets with hopes to produce batteries for Hybrids and EVs.
Panasonic is confident a link into the automotive industry like this will build their business at a rapid rate, considering the already efficient practice of both companies mixed with an increasing demand for alt-energy vehicles.