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Artesyn to close its factory in Hungary

Artesyn, a US maker of power conversion products, has decided to move its production in Hungary to a partner in Romania, business daily Napi Gazdaság reported relying on new portal EETimes. Production at the plant in Tatabanya (NW Hungary) will be outsourced to the Romanian unit of Canada's Celestica, one of Artesyn's partners. Artesyn will shut down the Tatabanya plant by the end of the year, laying of its 370 employees in phases. Artesyn hopes to find a buyer for the plant, preferably one that would take on the plant's workers too. Artesyn spent USD 7 million to build the plant in 2001.