Lockouts in Northern Greece’s industries have been rising and multiplying at an alarming fee in recent times, with the federal government’s funding narrative displaying severe cracks.
Over 200 employees face the specter of unemployment in Central Macedonia in 2024 as deindustrialization knocks laborious on the area’s door, making the nation’s productive reconstruction a utopian pursuit reasonably than a practical objective.
The business in… quote
On the event of Cisco’s departure from Thessaloniki, a problem raised by the “Financial Postman”, elevating the query of whether or not the corporate’s funding benefited town, we try a glance again on the domino of padlocks in manufacturing corporations in Northern Greece.
Fieratex
Fieratex, as soon as a number one drive within the textile business, is preventing tooth and nail to keep away from the lockout, the most recent case within the productive decline of Northern Greece.
The administration of the corporate, primarily based in New Santa Kilkis, cites the dearth of orders from overseas within the context of the overall downward pattern of the clothes sector throughout Europe to justify its choice to place the 100 manufacturing employees on layoff for a month, after so she shall be given time credit score to safe new orders.
Fieratex was based in 1988 by the Anezoulakis household. From the start the enterprise was vertically structured, which means that high quality and price had been at all times managed.
Its 58,000 m2 industrial services are situated 30 kilometers from the port and airport of Thessaloniki and are adjoining to the Balkan international locations of FYROM, Bulgaria, Albania and Turkey.
Barbarian
The Varvaresos textile business made headlines final month. The administration of the listed spinning mill with 3 factories and headquarters in Naoussa introduced to the employees their dismissal and the cessation of manufacturing.
The withdrawal of curiosity from the strategic investor who had reportedly expressed an curiosity in becoming a member of the corporate introduced down the curtain on the enterprise, sending 130 folks out of a job.
The corporate, which has struggled for years with monetary strangulation, filed for precautionary measures in February 2022, with safety from collectors expiring in January 2023. Since then, it has discovered itself with out financial institution financing, whereas on the similar time various staff went on strike and there have been mortgage complaints .
Based mostly on the monetary outcomes for the primary half of 2023, its turnover fell sharply to 1.47 million euros in comparison with 4.46 million euros within the first half of 2022, with the biggest gross sales (94.1%) they arrive from overseas.
The web outcome was destructive by 4.54 million euros towards losses of three.47 million euros within the corresponding interval.
Because of the steady loss-making years in recent times, each the listed firm’s fairness (-30.8 million euros) and dealing capital (-47 million euros) have turn into destructive.
The corporate on June 30, 2023 employed 135 staff in comparison with 159 staff on June 30, 2022.
Sonoco
With the liquidation means of Sonoco Hellas S.A. to have began from March 29, 2024, the American multinational paper firm Sonoco withdrew from the Greek market in April, sending greater than 90 employees to unemployment on the two factories it maintains in Stavrohori, Kilkis (manufacturing) and Neochorouda, Thessaloniki (processing). .
The multinational blames the lockout on “Greece’s opposed financial atmosphere” mixed with “the small dimension of the home market”. The Greek manufacturing of the Sonoco paper mill, which primarily went to international markets, shall be transferred to the Italian factories of the American multinational, guaranteeing decrease manufacturing prices, a reality that ought to ring resounding bells for the incentives offered by the nation to the traders.
“Vlachas” steamer
The productive decline started in 2019 with the closure of the DELTA manufacturing unit in Plati Imathia the place “Vlach Evaporated Milk” was produced.
Earlier than the dairy business and the Vivartia group on the whole got here underneath the management of CVC Capital, the then proprietor Marfin Funding Group determined to shut the Plateos manufacturing unit, after 45 years of steady operation, as a result of it was deemed unprofitable, whereas the manufacturing moved to different international locations. Greater than 70 employees turned unemployed.
Widening of regional disparities
The domino of locks in recent times (particularly in Northern Greece), testifies that deindustrialization is undermining the reconstruction of the nation’s productive material, at a time when the hole between Athens and the area is quickly worsening.
On this context, regional inequalities dwell and reign, with the scenario that prevails within the enterprise eloquently illustrating the ever-widening inequality hole in Greece, at a time when regional growth has emerged as a key strategic coverage goal each nationally and European degree. The discount of inter-regional disparities is certainly a key pillar for strengthening the foundations of the European edifice.
On this mild, Greece is… many kilometers away from reaching the objective of closing the hole between areas. Financial exercise is concentrated within the peripheries of the 2 main city facilities, the place greater than half of whole funding takes place. The area of Attica contributes virtually half of the entire GDP, over a 3rd of the entire investments and over half of the entire exports, primarily based on a research by IOBE.
The GDP per capita exhibits sharp discrepancies (Attica has by far the best GDP per capita), whereas there’s a excessive growth potential of the areas of island Greece in relation to the areas of mainland Greece, if nothing else an encouraging instance with tourism to “hides” the reply.
Particularly, companies in Attica make use of virtually double the variety of employees per enterprise, whereas the turnover per enterprise within the Attica area is nearly 4 occasions that of the corresponding dimension in Central Macedonia.
Power, inexperienced transition, digital transformation
With regard to the main challenges dealing with business and particularly the manufacturing sector, based on IOBE analysis, they’re summarized within the inexperienced transition, strategic autonomy, crucial in occasions of serious geopolitical developments, vitality prices, digital transformation, innovation and human assets in addition to the necessity for financing and the existence of a regulatory funding framework.
Supply OT
#Trade #resounding #padlocks #Northern #Greece #manufacturing #models #wrecked
