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Matsushita to shut down MT Picture Display in New York

Posted: 03 Nov 2004 ?? ?Print Version ?Bookmark and Share

Keywords:matsushita electric? mt picture display? crt? tv?

Matsushita Electric Ind. Co. Ltd has revealed plans to discontinue operations at MT Picture Display Corp. (MTPDA) in New York, next month, after which it will begin closing/liquidation procedures. MTPDA is a subsidiary of Matsushita Toshiba Picture Display Co. Ltd - MTPD, a joint venture of MEI and Toshiba Corp.

According to Matsushita Electric, the MTPDA which manufactures CRTs for TV receivers above 30-inches in the North American market has faced severe price and market erosion due to the increasing popularity of flat-panel TVs and declines in demand as a result of price competitive imports, mainly from Asia. This closing is a part of the company's global restructuring initiatives in the CRT business. In the future, CRTs for the North American market will be supplied by other manufacturing locations in order to establish an optimum CRT manufacturing structure.

MTPDA was originally established in 1985 by Toshiba as a manufacturing base for CRTs. The company subsequently became a subsidiary of MTPD upon its establishment in April 2003. MTPDA supplies some 950,000 units annually to the North American market.

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