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Loewe to keep it "made in Germany"
The twists and turns around Loewe – the German TV maker – has not ended. Loewe's plans to shift production abroad has it self shifted. Making a U-turn,Loewe will keep making most of its models back home.
The company went insolvent last year, and was acquired by an investment company some time ago. After its insolvency, Loewe had planed out a strategy to move the production of a bulk of its models to abroad in order to cut costs, and also to be able to sell cheaper products. According to a report in Reuters.
However, the investment group that picked up Loewe, Stargate Capital, has now changed the company's plans and intend to keep the production at home, the report continues.
With this, we can expect fewer job cuts at the Kronach site.
