Business News

Iskra Avtoelektrika Celebrates 50th Anniversary

Sempeter pri Gorici, 03 September (STA) - Car electronics manufacturer Iskra Avtoelektrika celebrated on Friday the 50th anniversary of its establishment as a special unit of the now long-gone Kranj-based electronics manufacturer Iskra. The ceremony was attended by Prime Minister Borut Pahor.

Although Iskra Avtoelektrika was hit hard by the economic crisis, it now gazes into the future optimistically with numerous new orders that already ensure production at least until the end of the year, the company's chairman Edvin Sever said at a press conference.

According to Sever, who sees the future especially in high-added-value products and green technology, the company would not have survived the crisis without investing EUR 4-5m a year in research.

Iskra Avtoelektrika sells its products to 2,500 different buyers in 58 countries. As much as 60% of the products go to western European countries, especially Germany, France and Italy.

The company exports 13% of its products to the US, while 12% are sold in Asia, mostly in China. Less than 1% of the products are sold on the domestic market.

Sever noted that all the workers who had been laid off due to the crisis have now been invited to join the company again and many have responded.

Thus the company currently employs 2,400 workers, of which 1,800 in Slovenia, while it also has five subsidiaries abroad (in China, Brazil, Belarus, Iran and Bosnia-Herzegovina).

PM Borut Pahor lauded the company at the ceremony by calling it an inspiration not only for its region but for the entire country.

Moreover, he pointed out how important it is that Slovenia posted a GDP growth of 2.2% in the second quarter of 2010 after the economy had been shrinking for a very long time and noted that the country is on a definite way out of the crisis.

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