ITALY: Yarn Maker Ziche Manifattura Buys Croatian Factory
Italian yarn maker Ziche Manifattura Lane announced on Tuesday it has bought a Croatian factory for $2.8 million which is expected to produce two million kilos of yarns annually from 2004. The Vicenza-based company said it bought the plant as labour and energy costs are lower in Croatia. It added it will create up to 70 new jobs next year as it begins installing new equipment and machinery at the facility.
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