Schott Ibérica has reached an agreement with workers about the closure of its manufacturing site in Sant Adrià de Besòs, Spain.
The company decided to close the factory because investments would be needed to renew and update the production equipment in order to remain competitive.
Schott said that it would not have been possible to operate the plant in an economical way in the future. The plant will reduce its activities in two steps beginning this summer and stop production at the end of 2014. In line with these steps employees will gradually cease their work in the plant.
The company said that it is aware of its responsibilities to its employees and said 30 of the 112 affected employees will be able relocate and work at its facilities in Germany and Switzerland.
The company and the workers also agreed on a financial compensation as well as the engagement of professional agencies that will accompany all other employees and support them in finding new jobs.
The agreement has been reached as a result of the negotiation process between the company and the Workers Committee, and has been approved by the Workers Assembly.
Schott is an international technology group with 130 years of experience in the areas of speciality glasses and materials and advanced technologies.