Artesyn relocates production from Hungary

US producer of electrical conversion equipment Artesyn has decided to transfer its production from Hungary to Canada-based Celestica”s manufacturing facilities in Oradea, the company”s officials announced. They said Artesyn would close the plant of Tatabanya, in northwestern Hungary, and most products manufactured there would be transferred to Oradea. The relocation process will be finalised by the end of this year. The decision to relocate production to Romania is part of the expense reduction programme the US-based company has initiated. Artesyn anticipates it will save 6 million dollars (about 4.8 million euros) next year. On the other hand, restructuring costs are projected to reach 5 million dollars in 2005. ZF