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Mascot to relocate manufacturing to Estonia, China
BC, Tallinn, 05.02.2018.
Print version
Print versionThe Norway-based manufacturer of electrical equipment Mascot is about to shut down its plant in Gressvik near the city of Fredrikstad and relocate manufacturing operations to Estonia and China, the news portal of Norway's public broadcaster NRK reports, cites LETA/BNS.
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The management board of Mascot decided at the end of last year that manufacturing operations will be relocated from Gressvik to Estonia and China. Sixty-seven people in Norway are about to lose their jobs by this summer, NRK said.
The CEO, Per Anton Kleppa, said that closure of manufacturing operations in Norway is likely to take until the end of the year.
Mascot, a manufacturer of chargers, converters, inverters and mains adapters, already has manufacturing units in Tallinn and Ningbo, China.
Mascot Baltic OU was registered as a business in 2008. Its revenue in the first 11 months of 2017 totaled slightly over two million euros and it employed a workforce of 54 at the end of the year.
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