will shut its Tottenham manufacturing facility by the year’s end, with the
cable maker citing a structural decline in demand and the high dollar.
News Corp reports that 90 jobs will be lost when the company closes the manufacturing
French-headquartered company has an industrial presence in 40 countries,
according to its website, and will continue to manufacture at two New Zealand
general manager of human resources and corporate affairs, John Thornton, told
News Corp that the strong Australian dollar and a decline in demand were behind
warehousing, head office, sales and sales supply chain, and technical and administrative
people will remain here,” he told News Corp.
are taking this decision to position the company for a sustainable and
“We will still be Australia’s
largest power cable provider.”
The announcement of the factory’s closure was made
earlier this month by Nexans’ CEO and chairman Frederic Vincent, Reuters notes,
and followed an operational improvement plan.