A well-known Japanese manufacturer of computer printers and imaging equipment has intended to move more production operations and personnel to Europe.
According to menafn.com, to cope with the strong currency in Japan, Seiko Epson Corp. (Epson) has decided to transfer more manufacturing and design operations to Europe. The company has revealed that this move is also aiming to get closer to the company’s customers and to absorb new pools of R&D talents.
The European Union and individual countries have launched incentives of promoting Asian manufacturers to move operations to Europe as well. The Horizon 2020 programme of European Commission has distributed around €80 billion (US$846.9 billion) for seven years to attract technology and industrial jobs to Europe.
Minoru Usui, the president of Epson stated, “In the future it might be advantageous for us to produce close to the main markets, for example in Europe. We’re quite heavily exposed to yen fluctuations. Creating product design functions in Europe, Asia, perhaps R&D in America—that’s the direction I want to take the company in, gradually reducing the weight in Japan.”
Click here to send us your news.