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Visteon electronics leaving Macedonia.

Visteon Electronics operating in the Bunardzik industrial zone in Skopje is going to leave Macedonia next year. As a reason for its departure, the company cited the excess of capacities in its European production.

The factory is currently in talks with a partner who would take over the factory and offer employment to a portion of its workforce. The employees of Visteon Electronics, former Johnson Controls, were informed by the management in early June that the company was going to leave the country by the end of following year.

Visteon Electronics managers also answered the questions regarding the use of government subsidies and whether the foreign capital leaves once the legal possibility of receiving subsidies ends.

"Visteon bought the Macedonian plant in July 2014 and the decision to end production in Macedonia was taken irrespective of any subsidies that the factory had been receiving before Visteon became its owner," they said.

They also say they intend to fully cooperate with the relevant government services in regard to this issue.

This factory was the first to start operations in Bunardzik in December of 2007. Since then by the end of last year, it accrued loss of some 2 million euros. Last year, the factory had 321 employees.

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Title Annotation:BUSINESS NEWS
Publication:INFOMAC Daily News Service
Date:Sep 11, 2015
Words:206
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