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Panasonic Automotive Electronics Company Honored by General Motors

22 May 2000

Panasonic Automotive Electronics Company Honored by General Motors as a "Supplier of the Year"; Wins Coveted GM Award for Third Consecutive Year

    SOUTHFIELD, Mich.--May 22, 2000--Panasonic Automotive Electronics Company has received a prestigious "Supplier of the Year" award from General Motors Corporation. The prize, being presented for the eighth consecutive year, is awarded annually to GM's best global suppliers in recognition of superior performance during the previous calendar year.
    "Panasonic Automotive Electronics Company is one of our best and brightest suppliers," said Harold R. Kutner, group vice president, Worldwide Purchasing and North American Production Control & Logistics, host of a recent awards ceremony at the historic PrinzRegenten Theater in Munich, Germany. "It is an honor to have them working with us. Their contributions to General Motors' overall success are immeasurable. We look upon the Supplier of the Year award as an important recognition of their value as an automotive industry supplier."
    "GM places heavy expectations on it's suppliers and we have met those expectations," said Vincent Sarrecchia, Panasonic Automotive Electronics Company president, and its representative at the awards ceremony in Germany. "To be recognized for the third year in a row as being among the 'best of the best' is an extraordinary achievement of which we are very proud."
    Panasonic Automotive Electronics Company, a division of Matsushita Electric Corporation of America, was established in 1998 to supply entertainment systems and components to the automotive industry. With five sales offices located throughout the United States, including headquarters in Southfield, MI, the company has strategically placed itself in close proximity to its customers in order to provide a superior level of service and attention.
    New Jersey-based Matsushita Electric Corporation of America (MECA) is the principal U.S. subsidiary of Matsushita Electric Industrial Co., Ltd. of Japan, a worldwide leader in the development of technologies and the production of electronic and electric products for consumer, business and industrial use. Best known in North America by its Panasonic brand name, Matsushita Electric maintains R&D, manufacturing, sales and service operations here. Additional information on Panasonic and Matsushita is available at www.panasonic.com.