Following the government's agreement with Methode Electronics on Tuesday to save jobs and consolidate the company's operations in Malta, Malta Enterprise is working on similar deals with two other manufacturers, the organisation's executive chairman Alan Camilleri told The Times Business.
Stainless Steel Products Ltd and Trelleborg Sealing Solutions Malta are both in discussions with the government over tailor-made packages for them in order to secure their future in Malta in view of the difficult global economic climate. In January a drop in orders forced Stainless Steel Products Ltd to go on a four-day week while Trelleborg Sealing SolutionsMalta announced that it intended to shed 102 jobs. Last October Trelleborg was one of the first manufacturing plants to reduce its working week. It subsequently sacked 25 workers, as the order books continued to dry up. The four-day-week system came to an end on January 1.
Stainless Steel Products Ltd produces kitchen sinks and employs just over 100 workers. Trelleborg produces "O" rings for the car industry and employs around 600 people. "We are working within our industry incentives framework to help both Stainless Steel Products and Trelleborg overcome their current difficulties, just as we did with Methode. Whatever help we give is fully compliant with EU laws and regulations," Mr Camilleri said.
The government's package for Methode included helping to fund the training of workers for new production lines and the provision of factory space.
Earlier this month the government set up a task force, chaired by Finance Minister Tonio Fenech, to help those manufacturing companies facing difficulties due to the international economic climate. Mr Camilleri is a member of this task force.
As a result of Tuesday's agreement Methode Electronics, which last November reduced its working week due to the global economic downturn, is to return to a five-day week by April, and also plans to invest €6.5 million in its Malta operation next year. The company, which employs 750 workers, was in line for around 100 job cuts, but these have now been saved.
Methode's non-automotive sector, which went down to a three-and-a-half-day week, will be going back to a four-and-a-half-day week on April 1. Methode's new €6.5 million investment will be mainly in the non-automotive sector in line with its strategy of diversification.
Methode Electronics is a full service switch supplier designing and manufacturing electromechanical and electronic controls, sensors and switch devices for Original Equipment Manufacturers (OEMs) worldwide.
Other industries that have been reduced to working a four-day week include Malta Moulds Ltd, Pamargan Products (Malta Ltd, Hetronic Malta Ltd, Dold Industrial automation Ltd, Powerswitch Ltd, Multi Packaging Ltd and Packprint Ltd.
Stainless Steel Products Ltd and Trelleborg Sealing Solutions Malta are both in discussions with the government over tailor-made packages for them in order to secure their future in Malta in view of the difficult global economic climate. In January a drop in orders forced Stainless Steel Products Ltd to go on a four-day week while Trelleborg Sealing SolutionsMalta announced that it intended to shed 102 jobs. Last October Trelleborg was one of the first manufacturing plants to reduce its working week. It subsequently sacked 25 workers, as the order books continued to dry up. The four-day-week system came to an end on January 1.
Stainless Steel Products Ltd produces kitchen sinks and employs just over 100 workers. Trelleborg produces "O" rings for the car industry and employs around 600 people. "We are working within our industry incentives framework to help both Stainless Steel Products and Trelleborg overcome their current difficulties, just as we did with Methode. Whatever help we give is fully compliant with EU laws and regulations," Mr Camilleri said.
The government's package for Methode included helping to fund the training of workers for new production lines and the provision of factory space.
Earlier this month the government set up a task force, chaired by Finance Minister Tonio Fenech, to help those manufacturing companies facing difficulties due to the international economic climate. Mr Camilleri is a member of this task force.
As a result of Tuesday's agreement Methode Electronics, which last November reduced its working week due to the global economic downturn, is to return to a five-day week by April, and also plans to invest €6.5 million in its Malta operation next year. The company, which employs 750 workers, was in line for around 100 job cuts, but these have now been saved.
Methode's non-automotive sector, which went down to a three-and-a-half-day week, will be going back to a four-and-a-half-day week on April 1. Methode's new €6.5 million investment will be mainly in the non-automotive sector in line with its strategy of diversification.
Methode Electronics is a full service switch supplier designing and manufacturing electromechanical and electronic controls, sensors and switch devices for Original Equipment Manufacturers (OEMs) worldwide.
Other industries that have been reduced to working a four-day week include Malta Moulds Ltd, Pamargan Products (Malta Ltd, Hetronic Malta Ltd, Dold Industrial automation Ltd, Powerswitch Ltd, Multi Packaging Ltd and Packprint Ltd.