Playmobil toys being made. Photos: Paul Spiteri Lucas

Playmobil will have its electricity bill slashed by €900,000 over the course of a year after the reduction in electricity tariffs for businesses is introduced in March.

The lower cost of energy was definitely a step in the right direction to help it remain competitive, said the German toy manufacturer’s CEO, Matthias Fauser.

Speaking during a visit to the plant in Ħal Far by Energy Minister Konrad Mizzi, Mr Fauser said the cost of electricity had soared from €1.6 million in 2007 to €3.9 million, putting a strain on the company’s operations.

The reduction, he said, was more than welcome.

It’s a step in the right direction

“We wanted this to be introduced last year. However, it’s still a step in the right direction.”

His company would like to see other important measures implemented by the government to help the manufacturing industry, he said without elaborating.

Dr Mizzi said the reduction was another measure aimed at helping manufacturing to continue to grow. The government believed in the potential of manufacturing and wanted the industry to keep investing in the island.

Playmobil, part of the Brandstätter Group, has been established in Malta since 1971 and has a workforce of more than 1,000.