Fischer invests €5.6M in Portugal
The Swiss multinational Fischer Connectors which specialises in high-tech cable connectors has chosen Portugal to expand its business by investing €5.6 million in building a new electronics factory in Amarante.
The group will take on 100 employees with 50 new staff hired in the first phase of the operation.
The new factory unit will be completed at the end of 2022 will assemble high performance connector and cable assemblies, including fibre optic connectors, as well as producing enhanced data storage such as memory sticks.
By moving some of its production to Portugal the company hopes to reduce production costs.
“This investment is vital for Amarante. When referring to overseas multinationals that want to increase their competitiveness and productivity and choose a town like Amarante, it is an excellent sign and could bring in other companies on its tails,” said José Gaspar Jorge, president of Amarante Municipal Council.
Fischer Connectors said the town’s history as an industrial centre and in terms of costs base, working environment, cultural factors, talent and availability were the main reasons that led the Swiss company to choose the city of Amarante.
The group’s CEO Jonathan Brossard explained that the factory unit in Portugal “is one of the company’s cornerstones in its growth strategy.”