Bosch acquires FagorMastercook

Bosch intends to invest PLN 120 million in the production facility and to hire 500 people, local media reports. This is the second attempt to sell the production plant in Wrocław. During the first attempt – in September – the asking price of PLN 270 million was not reached, according to a report in Gazeta Wyborcza. FagorMastercook's problems began last year when the Spanish owners had to file for bankruptcy. At that time, the company had nearly 1'200 employees in Poland. In February 2014, the company experienced its second bankruptcy in Poland, at this time the facility had some 800 employees. The new German owners is planning on employing 500 people, but will first fire all of the over 800 current employees of the production plant, the report concludes.