Type
Offshoring/Delocalisation
Country
Slovenia
Region
Slovenija; Podravska;
Location of affected unit(s)
Sector
Manufacturing
Manufacture Of Computer, Electrical Electronic And Optical Products
Manufacture Of Electrical Equipment
27.4 - Manufacture of electric lighting equipment
New offshoring locations
Germany

396 jobs
Number of planned job losses
Job loss
Announcement Date
21 September 2005
Employment effect (start)
Foreseen end date
28 February 2006

Description

A Maribor based filial of German Siteco, manufacturer and supplier of interior, outdoor and custom lighting solutions, is terminating its business operations for failing to satisfy profit expectations of a major shareholder, international investor JPMorgan. Company has been listed as one of 100 most promising industrial units in Slovenia with a 20% average growth rate and a profit margin of up to 17% during last five years. Production lines will be moved to China and most of nearly 400 employees will be left jobless by February 2006. The company's research unit, together with engineers, will be relocated to Germany's headquarters.


Sources

  • 24 September 2005: Dnevnik
  • 26 September 2005: Delo
  • : (www.siteco.si)

Citation

Eurofound (2005), Siteco, Offshoring/Delocalisation in Slovenia, factsheet number 62310, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62310.