Tyco Plans Cable Plant.
26 July 2008
The US group Tyco plans to invest EUR 50m to build an electric cable plant in the western Ivano-Frankivsk region, according to local authorities. A Tyco subsidiary has signed a deal to rent land in the region, where construction will begin this year and finish in 2009, the officials said. Olha Pankiv: Tyco has said previously that it planned to produce automobile cables in Ukraine. A similar project was launched a few years ago by Leoni AG (Germany), which produces automobile cables in Lviv oblast. However, another producer, Yazaki (Japan), reportedly closed its production in May 2006 after last year’s cancellation of tax privileges for free economic zones made production unprofitable.
