Karolina to close down linen plant
Monday, August 1, 2005, 11:51
Karolina Kft, the Hungarian subsidiary of Austria's Lambacher Hitiag Leinen AG, is closing down its flax and textile manufacturing plant in Tolna, south-western Hungary and will cut over a hundred jobs this year, the company said. Production is expected to halt by the end of August but 50 staff will continue maintenance work into October. If Karolina fails to find an investor, both the plant and its 6-hectare site will be put up for sale. The factory was built back in 1999 in a greenfield investment with a view to tap on the town's long tradition in textile manufacturing.