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Panasonic Parent Denies Reported Flat Panel Deal

Despite a Japanese newspaper report, Matsushita said it hasn't made a decision regarding a possible alliance with Hitachi and Canon to produce flat panel displays.

NEW YORK (AP) — Panasonic parent Matsushita Electric Industrial Co. said Wednesday it hasn't made a decision regarding a possible alliance with Hitachi Ltd. and Canon Inc. to produce flatpanel displays.
 
A Japanese business newspaper earlier Wednesday reported that Canon Inc. and Matsushita Electric Industrial Co. were mulling an investment in a subsidiary of Hitachi Ltd. as part of a combined effort to design and produce organic electroluminescent panels.
 
In separate comment, Hitachi also said no decision has been made.
 
The panels are considered to be a possible replacement for liquid-crystal displays.
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