Panasonic Accelerates Growth Strategy for Hydronic Systems Business in Europe, Establishes Engineering, Manufacturing and Sales Functions in the Region

Osaka, Japan - Panasonic Corporation today announced that it will accelerate its growth strategy for its Heating & Ventilation A/C Company (HVAC Company) for the air-to-water (A2W) heat pump and hydronic systems business in the European market. As part of this strategy, the company will invest an additional 15 billion yen in its Czech Plant to increase production of A2W heat pumps, for which demand is growing. Combined with the investment already announced last year, the total investment in the European region amounts to 80 billion yen.