Landis + Gyr transfers more production to Corinth
Multinational Landis + Gyr has transferred production of two more “smart” electrical meters from their UK factory to their manufacturing facility in Corinth, Greece. The company announced that the new production lines for the new series of “smart” electrical meters, which are already sold in Austria, Switzerland, Denmark, Poland, Croatia, Bosnia, Finland and Slovenia, are already manufactured in Corinth, and power companies from many other countries have expressed an interest in purchasing this prod- uct. This new activity will add 40 new skilled jobs to the existing workforce of Landis + Gyr Greece, for which the recruitment process has begun. End-June marked the completion of transferring production from the factory in Zug, Switzerland, where the company’s head office is, to the manufacturing facility in Corinth. “Landis + Gyr Greece is established as the basic manufacturing facility of ‘smart’ electrical meters of the entire Landis + Gyr Group for the both the European and the global markets, at the same time continuing production of electrical meters and retaining its very important knowhow in that sector of the industry,” said Managing Director of Landis + Gyr Greece Dimitris Avrampos. price for its initial public offering will most likely be set at 36 zlotys per share, market sources said yesterday. The book building was due to close yesterday. The company said earlier this month that it sought to raise up to 5.2 billion zlotys ($1.40 billion) in the biggest flotation in Warsaw since 2011. The mobile operator, owned by Greek fund Tollerton and Icelandic investor Novator, plans sell up to 121,572,621 existing shares, or 48.6 percent of its total equity, including the over-allotment option.