Japanese automotive components manufacturer Yazaki will shut down its automotive components factory in Romania’s southeastern city of Buzau and reduce workers at Ploiesti, local media reported.
The move was spurred on by the need to adjust production capacities to align with the current context of the global automotive market, against the background of an acceleration in electrification, business daily Ziarul Financiar reported, according to SeeNews.com.
“Due to the premature discontinuation of the production of a car model of one of our main customers – sparked by a swift transition towards electric models and the lack of labour force […] – our company has adopted strategic measures that enable it to adapt to the situation and adequately prepare itself for the future,” Ziarul Financial quoted Yazaki officials as saying.
The parts manufacturer was cooperating with the trade unions and other social partners which could support affected employees during the restructuring process.
Yazaki also said it was taking steps that would ensure the development of three of its other Romanian factories in Braila, Caracal and Ploiesti.
Present in Romania since 2003, Yazaki also operates factories in the western cities of Arad and Timisoara.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData