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The German combine ThyssenKrupp from Düsseldorf is going to close its plant for the manufacture of elevators in the Austrian town of Gratkorn.

300 employees are affected. The factory should close in 18 months.

Gratkorn is located in the north of Styrias provincial capital of Graz. The main reasons of the closure are the competitive pressure, and a changed situation on the market.

A redundancy programme should cushion the worst destinies of the 300 workers. All of them should find new jobs.

ThyssenKrupp also had to close its factory in Valencia (Spain).

Photographer: Vinicius Tupinamba | Agency: Dreamstime.com