Matsushita Electric Industrial Co. said it will shut a North Carolina factory that makes air-conditioner compressors, eliminating 530 jobs, because of declining U.S. air-conditioner production. Matsushita, the world's No. 1 consumer electronics maker, is closing its Matsushita Compressor Corp. of America unit, which it established in 1989. The cuts represent about 2% of the Japanese company's U.S. work force. The company plans to move U.S. production of compressors to plants in Asian countries, including Malaysia and China.
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