The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
200 jobs Number of planned job losses
Announcement Date
7 May 2008
Employment effect (start)
7 May 2009
Foreseen end date
7 May 2009
Description
Iskraemeco, a producer of eletrical equipment and systems for energy measurement owned by the Egyptian company El Sewedy Cables, has announced the loss of 200 jobs in 2009 by ending production of mechanical meters at its plant in Kranj. Another 200 workers will be re-qualified.Over the last five years Iskraemeco has faced a decline in profits, in particularly because of the non-viable production of mechanical meters. El Sewedy has not decided yet whether the production of mechanical meters in Kranj will be terminated or offshored to Egypt. El Sewedy Cables has three customers for mechanical meters and labour costs in Egypt are lower than in Slovenia.
Sources
7 May 2008: Finance
Citation
Eurofound (2008), Iskraemeco, Internal restructuring in Slovenia, factsheet number 66602, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66602.
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