Tridonic to withdraw from magnetics sector

With a proactive schedule of measures, the company is generating the necessary response to the restrictions that EU legislation will impose on inefficient magnetic technology from 2017 onwards. Withdrawal from the magnetics business will affect two production plants: the Fürstenfeld site in Styria, Austria , with 102 employees and magnetics production in Melbourne, Australia, which currently employs 49 people. The Fürstenfeld plant is to close. Tridonic management will be working closely with employee representatives to arrive at balanced solutions for the affected employees. As an alternative to closure as of 30 December 2013, the option of selling the Melbourne plant is currently the subject of intensive discussions with a potential investor who would retain a large part of the workforce in the event of purchase. At this moment in time, a decision is yet to be taken. “For several years now we have known that it was only a question of time until we pulled out of the magnetics business. In our efforts to secure the future of Tridonic in this decisive phase of the technology shift to LEDs, this is the right time to make a coordinated withdrawal from the magnetics sector. Of course we regret this step in view of the employees who are affected. Through their commitment, for many years now they have played their part in Tridonic’s success. We are not only grateful for this but also want to assure them that we will live up to our responsibility towards them in full,” said Tridonic CEO Alfred Felder.