Artesyn to shut down Hungarian plant,<br> transfer to Celestica in Romania

Artesyn will shut down the plant in Tatabanya by the end of the year, laying of its 370 employees in phases. Artesyn hopes to find a buyer for the plant, preferably one that would take on the plant's workers too. Artesyn spent 7 million US Dollar to build the plant in 2001. Artesyn will transfer most of the production to Celestica's plant in Oradea, Romania. The transition is expected to be complete by the end of 2005. The restructuring costs will end up at 5 million US Dollar this year.