OREANDA-NEWS. Ficosa International S.A. and Panasonic Corporation signed an investment agreement to enter into a capital and business alliance.

As part of the capital alliance, Panasonic will take a 49% stake in Ficosa through a combination of the subscription of newly issued shares, the acquisition of treasury stock and the purchase of shares from Ficosa Inversion S.L., the largest shareholder of Ficosa.

Both companies agree to continue discussions about strengthening their capital, business and technological partnership in the future.

Ficosa and Panasonic plan to integrate their im aging technology know-how and combine Panasonic's innovative display technology with Ficosa's automotive mirror background and technology, thereby accelerating the launch of electronic technologically advanced automotive mirrors that support comfortable and safe driving.

The scope of the alliance will also include cross selling activities to accelerate the expansion of Panasonic's infotainment systems such as display audio and devices by leveraging Ficosa's strong sales force focused on European and American OEM customers.

Ficosa will benefit from Panasonic's global presence, especially with Japanese OEMs, to promote specific products like camera washer systems, telematics control units, and shift by wire applications.