The Hewlett-Packard (HP) IT giant has closed down its Shushary factory outside St Petersburg for good, it was revealed this week. Work at the plant – which was set up as a JV with Taiwan’s Foxconn in 2010 for the manufacture of personal computers – had been put hold in the middle of last year and operations moved to the Czech Republic, ostensibly for reasons of costs and logistics.
The Shushary factory was originally earmarked as HP’s main production facility for exports to Eastern Europe, the Baltics and Scandinavia, but a drop in demand saw production volumes and revenues fall by 15% and 28.1% respectively last year.
Source: Rosbalt