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SECAUCUS, NJ --Starting Nov. 1,  Panasonic Corp. of North America will launch a nationwide program designed to provide consumers convenient recycling of Panasonic brand TVs and other consumer electronics.

Under the program, consumers can drop off Panasonic products free of charge. Panasonic also will work jointly with public and private recyclers, communities, governments, charities and other organizations.

The venture will cover more than 160 recycling drop-off locations in 10 states, and is slated to expand to all 50 states, with hundreds more sites, over the next three years.

In a press statement, Recycling Group manager Richard Vernam, said, "The program will help to move end-of-life consumer electronics out of the common waste stream and into a separate and environmentally responsible recycling stream."

"The focus of Panasonic's new program will be on consumer convenience and environmentally sound recycling," said Yoshi Yamada, Chairman and CEO of Panasonic Corporation of North America. "The new national program both gives life to our customers' recycling expectations and embodies our company's commitment to responsible product lifecycle management."

The move might also signal a larger emphasis on designing products that are easy to break down and reuse.

SEOUL -- US-based private equity group Ripplewood has emerged as the preferred bidder to buy Daewoo Electronics, the company's leading creditor said yesterday.

A deal for the money-losing consumer electronics maker is hoped to be struck by year-end.

The bid price was not disclosed, but local reports pegged it in the range of  $288 million to $324 million. If correct, that marks up to a 43% drop from a bid submitted last year by a group led by Videocon Industries, which creditors rejected as too low.

Creditors own 97.5% of Daewoo.


TAIPEIHon Hai Precision Industry (the trade name of Foxconn) reported net profit of $540 million for its third quarter, down 10% year-over-year, but beating market expectations.
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