As a consequence of the fact that Draka’s important automotive customers (Tier 1 harness suppliers) in Spain are relocating their production facilities to low labour cost countries in North Africa and Eastern Europe, the Board of Management of Draka Holding N.V. announces that it has decided to close its factory in Vigo (Spain), which is part of its Automotive & Aviation division.
The factory is dedicated to the manufacturing of electric cables for the automotive industry and employs around 100 people. The total termination of the activities will also be duly communicated to the employees and will take place in the following months. Draka will inform the Works’ Council and the Labor Authority about the legal grounds for the aforementioned close down. the Board of Management said in a press release.
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