The deindustrialization of Greece, a process that begun sometime in the late 1970s and has left the country bereft of industry save for a few companies, has taken its toll on yet another productive unit, the IMAS factory.
The IMAS factory, located in Volos, is owned by the German multinational Continental/Contitech and produces conveyor belts and belt monitoring systems for mines.
Continental is a profitable German multinational with 3.4 billion euros profit for 2014. It employs more than 190,000 workers all over the world and has recently fussed with Goodyear another big tire producing multinational company.
A few days ago, the company informed the 130 employees that the management has decided to shut down the factory and thus their contracts with the company will be dissolved.
The decision to shut down the factory came in the aftermath of prolonged talks between management and union representatives for a new contract.
A few weeks ago the factory management had announced for layoffs and more to come in the next days. Only a few years ago, around 300 workers were employed in the factory, a few months ago the number was down to 200 and now no more than 130.
In a statement released to employees and the press, the management said the factory will be permanently shut down.
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
