ROLLING MEADOWS, IL – Panasonic Factory Solutions Co. of America said it recorded double-digit growth in its fiscal year ended March 31. The SMT equipment supplier cited notable progress with Tier 1 suppliers, including a more than 200% increase in mid-market penetration and nearly 400% growth in refurbished machinery sales.

"By refining our infrastructure, the evolution of our market strategy, and the innovative hardware and software innovations, we accomplished tremendous growth in fiscal 2013,” said M. Faisal Pandit, president of Panasonic FSA.

The company said it doubled its new customer accounts over the past year while research and collaboration yielded new innovations such as the AM100 placement machine, PanaCIM Express MES software, and other new products.

"Our growth in fiscal 2013 clearly proves Panasonic Factory Solutions has listened to and acted on what the market needed in order to offer total solutions aligning with the low volume high-mix market, as well as our Tier 1 manufacturers,” Pandit said.