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Visiocorp Consolidation Sees Closure of Spanish Plant

Visiocorp plc, the world’s leading manufacturer of rear-view mirror systems for the automotive industry, announced today that it will concentrate the output of its Spanish factories at its plant located in Epila (Zaragoza). With this move the company will consolidate its production in Spain and reduce overcapacity in the Liria plant based on the fact, that during the past production period, the Liria factory experienced a decrease of turnover of over 30%.

One of the determining factors to concentrate the production at Epila is greater proximity with 90% of its current OEM customers in Spain. Additionally, the plant in Zaragoza has greater technical capacity and infrastructure such as a paint shop. This enables Visiocorp plc. to increase the productivity of production processes and product lines and to maximize the added value of its production in Spain as part of the global restructuring process which is still in full swing.

According to Ulrich Bruhnke, CEO of Visiocorp Group, "This restructuring is carried out after intense discussions within the group about the need to maintain the plant in Liria. Our relationship in the area as well as with the workers has been excellent during the past nine years in which we have been present here. However, the results and the ongoing duties regarding the global restructuring oblige us to think long term and to maintain Visiocorp competitive in Spain in the future."

The company is currently designing a social plan that will reduce the effects of the closure for the 137 employees in Liria. Furthermore, it is negotiating with all the social agents involved to reach the best agreement possible both for the workers and the company with regards to this situation.

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