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Business deals

Panasonic to sell third commercial refrigerator maker in China overhaul

Japanese group shifts focus to household products as competition grows

Dalian-based Panasonic Appliances Cold Chain makes refrigerators and freezers for stores and restaurants. (Photo by Shin Watanabe)

DALIAN, China -- Japan's Panasonic Holdings will unload another Chinese commercial refrigeration company as early as this month in a pivot toward the consumer market in China.

The manufacturer will sell its entire stake in Panasonic Appliances Cold Chain to local partner Dalian Bingshan Group for about 100 million yuan ($14.5 million), an official in charge of Panasonic's Chinese operations said.

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