Isola to close down the Belgium plant
Isola to close down the Belgium plant
The Isola Group will close its plant in Petit- Rechain, Belgium on December 31st, 2001. The plant currently employs 109 people.
"Following the cooling-down of the global economy the severe slow-down of the European electronic markets, we have been obliged to go for short-time employment since February 2001. At present our capacity utilisation is about 40%", explained Mr. Fettweis, General Manager of Isola Benelux SA.
"The shrinkage of the market is also the result of our customers' business being transferred to Asia where they continue to order more and more. It is very unlikely that this business will ever come back to Europe. This has lead the Isola Group to downsize its European production capacities in Great-Britain(Cumbernauld), Italy (Bottegone), Belgium (Petit-Rechain) and Germany (Düren)".
