Paris, Tokyo, Sept 14, 2001 - As a first step of a long term cooperation, Kunio Nakamura, President of Matsushita Electric and Thierry Breton, Chairman and CEO of Thomson multimedia, today signed in Tokyo a cooperation agreement between their two respective companies covering the area of Color TV Picture Tubes.
To benefit from their respective leading positions in the Color Picture Tube market, Thomson multimedia, Matsushita and its affiliates will increase their mutual supply and purchase flow relationship. A renewable three year agreement will allow Thomson multimedia to develop its OEM sales of tubes, glass and other tubes components while Matsushita will enhance their Color TV Picture Tube operations competitiveness in Europe and North America and secure a competitive source of tubes for their TV operations.
"The Color TV Picture Tube business is one of the toughest cost competitive markets in the electronics industry. I expect that the collaboration with Thomson multimedia will enhance our global competitiveness, and be mutually beneficial," states Mr. Kunio Nakamura, Matsushita president.
"This wide-ranging agreement will further strengthen Thomson's position as a leader and OEM supplier of Large and Very Large Color Picture Tubes. Thomson intends to play a key role in supporting industry consolidation and rationalization" said Thierry Breton Chairman and CEO of Thomson multimedia.
In Europe and North America, the companies will benefit from a reciprocal "preferred supplier" status for tubes, glass and tube components. A specific focus will be put on the North American markets, where Thomson will benefit from the capacity of its new CPT plant in Mexicali, Mexico in order to serve Matsushita’s needs.
The companies will finalize the details of supply agreement by the end of 2001. They also plan to explore actively a second step for their future cooperation in areas such as copy protection for digital home networks, packaged media solutions, R&D;, displays, and other tube areas.
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This press release contains forward-looking statements regarding prospects for the future that involve a number of risks and uncertainties. Among the factors that could cause actual income to differ materially from those expected are the following: business conditions and general economic conditions; competitive factors such as pricing and marketing efforts of rival companies; timing of product introductions; ability of contract manufacturers to meet product price objectives and delivery schedules; legislative, regulatory, and industry initiatives that may affect planned or actual product features and marketing methods; and the pace and success of product research and development..
Matsushita Electric Industrial Co. (NYSE: MC), Ltd., best known for its Panasonic, National, Technics, and Quasar brand names, is a worldwide leader in the development and manufacture of electronics products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated sales of US$61.45 billion for the fiscal year ended March 31, 2001. In addition to the Tokyo and other Japanese stock exchanges, Matsushita's shares are listed on the Amsterdam, Dusseldorf, Frankfurt, New York, Pacific, and Paris stock exchanges.
For more information, visit the Matsushita web site at
About Thomson multimedia
With sales of 9.1 billion Euros (U.S. $ 8.3 billion) in 2000 and 73,000 employees in more than 30 countries, Thomson multimedia (Paris Euroclear: 18453) (NYSE: TMS), provides a wide range of video (and enabling) technologies, systems, finished products and services to consumers and professionals in the entertainment and media industries. To advance and enable the digital media transition, Thomson multimedia has five principal activities: Digital Media Solutions, Displays and Components, Consumer Products, Patents and Licensing, and New Media Services. The company distributes its products under the popular THOMSON, RCA and TECHNICOLOR brand names. For more information: www.thomson-multimedia.com.
Press relations :
Akira Kadota, International PR, Tokyo
Matsushita Electric Industrial Co., Ltd.
Tel: 81-3-3578-1237 Fax: 81-3-3437-2776
Marc Meyer, Corporate Communications
Tel: 33-22.214.171.124.03 Fax: 33-126.96.36.199.04