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Shangri-La: The high cost of doing business!
Archy McNally
Swedish based Electrolux the world's biggest maker of home appliances will close its plant in Nuremberg, Germany as of the end of 2007. Production operations will be transferred to Poland and Italy where production costs are much lower thus eliminating 1,750 Nuremberg workers. Also slated to be closed is a plant in Torsvik, Sweden which employs 190 workers.
The closings are due to the significant high cost of doing business in a socialist country. Labor costs, taxes and government regulation are stagnating the company said Johan Bygge the head of the company's major appliances unit for Europe, Asia and the Pacific.
One never knows does one?
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