Hitachi to close Plasma TV facility in Žatec, CZ

The reason for this decision is long-term losses that the company has seen coming from the production if Plasma TVs. It is likely that the facility will be closed immediately - as soon as consultation with trade unions and local governments have been ended. Local media reports that all employees will receive a compensation. Over the past six months the situation had deteriorated considerably and the current economic crisis added to the decline in sales. The company has not voiced the intention to relocate the Czech production to another country however. Hitachi started to produce in the industrial zone near Žatec in the Czech Ústí Region in October 2007, when it received government incentives to create new jobs, training and retraining.