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Published: 10 September 1998 14:22 BST
Matsushita is to close it's US semiconductor plant based in Washington DC, creating 340 staff redundancies. It is the latest company to struggle in the wake of the Asian economic crisis and Matsushita says it has not ruled out further closures.
The electronics company joins the likes of Fujitsu, LG Group, Motorola and Siemens which have all announced closures or scaled down operations as a direct result of the global saturation of the DRAM market.
Meanwhile, the Semiconductor Industry Association has issued a report which shows year-on-year worldwide sales of semiconductors have fallen by 17 per cent.
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