Panasonic Reaches Agreement to Acquire All Shares of Area Cooling, a Polish Refrigeration Equipment Manufacturer

Osaka, Japan – Panasonic Corporation today announced that its Cold Chain Solutions Company (hereinafter referred to as Panasonic) has entered into an agreement with Cooling Solutions S.L. to purchase all the shares of its subsidiary Area Cooling Solutions Sp. z o.o. , a Polish refrigeration equipment manufacturer (hereinafter referred to as Area Cooling).1This transaction is a strategic step for Panasonic to strengthen its condensing unit business in the European market and to accelerate its ongoing global expansion.