The sky-high electricity costs are now forcing Linz-Textil to make a drastic decision: the factory in Landeck, which houses the most modern cotton mill in Europe, will be closed. Production will be a thing of the past at the end of March 2023.
In May there were already “adjustments” at the Landeck factory: activities in Europe’s most modern cotton mill have since continued to run at a lower level. But now the end of the site has been decided: Linz-Textil will stop production at the factory in Tyrol at the end of March 2023.
Reason: Production at internationally competitive prices is no longer possible. The cost advantage of Asian competitors has become unbridgeable. Linz-Textil announced that there will be a social plan for the affected employees.
Source: Krone
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