Business News

Slovenian-German Joint Venture Creates 30 New Jobs

Ljubljana, 14 May (STA) - Iskra Zaščite, a maker of surge protection devices, has teamed up with German company Weidmüller Interface in a joint venture launched in early May that has created 30 jobs in Logatec.

The Ljubljana-based Iskra Zaščite will focus on development whereas Weidmüller will be in charge of sales and marketing, company officials told the press on Wednesday.

The joint venture, a 50:50 investment worth EUR 1.3m, created 30 new jobs, with the headcount planned to increase to 40 over the medium term.

"The goal is to set up a competence centre with highly qualified experts," said Weidmüller board member Elke Eckstein.

Otmar Zorn, the owner and director of Iskra Zaščite, said surge protection was a niche segment with considerable growth prospects.

"We and the joint venture with Weidmüller have a bright future ahead," he said.

The family-owned Weidmüller has production and sales locations in 80 countries and generates EUR 640m in annual revenue.

Iskra Žaščite ended last year with sales of around EUR 20m and a EUR 3.4m profit.

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