“Gorenje will stop producing appliances for Panasonic of Japan, a move that raises the prospect that Panasonic will also divest its 10.7% stake in the company, daily newspaper Delo reports today.

Gorenje confirmed for Delo the agreement under which it produced Panasonic-branded washing machines and refrigerators would be terminated.

The company says the partnership accounts for 1.5% of Gorenje’s EUR 1.2bn in revenue, but insiders suspect revenue could drop by a tenth as a result, the paper says.

Gorenje said the shortfall would not be negligible but would be offset with sales to other clients on all existing and new markets.” (Slovenia Times)