Japan's Hitachi said it would shut down its plasma TV manufacturing plant in the Czech Republic by the end of March 2009, The Associated Press reported on March 27. It is expected that the current work force of 800 will also be laid off by the end of April. Back in October 2007, Hitachi started operations at this plant near Zatec, in the northwestern part of the country, with a planned investment of 1.73 billion Koruna (US$84.88 million; US$1=20.38 Koruna). Hitach received a financial incentive of 246 million Koruna (US$12.07 million) setting up the plant, and Hitachi said it will return the money to the Czech government. It is reported that the Japanese electronics manufacturer has no plan to move its Czech plasma TV production to another site.

In related news, according to a March 31 Dow Jones report, Japan's Showa Shell Sekiyu said it is mulling the purchase of a Hitachi plasma panel plant in Miyazaki Prefecture in southern Japan. The Japanese oil refiner plans to invest 100 billion Yen (US$1.01 billion; US$1=98.9 Yen) in opening a solar cell plant by 2011, with a planned capacity of one million kilowatts per year. According to the Dow Jones report, Showa Shell is considering the possibility of turning Hitachi's plasma panel plant, located near Showa Shell's existing solar cell plants, into a same facility. Showa Shell, however, said that no decision has been reached yet.