VT Manufacturing Center footwear producer, which early this year acquired Technic Development Timisoara factory owned by Italy's Geox, announced it would make 767 employees redundant starting September, according to Mediafax. VT Manufacturing, owned by Italian businessman Vicenzo Tagliaboschi, 64, has operated before in the East European textile industry, inclusively in Romania. The company's representatives could not be contacted to explain whether the persons to be laid off are employees of the former Geox plant or of another production facility in Timisoara. The acquired plant, which manufactured 1 million pair of shoes annually, is the only facility that produced in Romania for Geox. Technic Development Timisoara had almost 900 employees and generated 5% of Geox's total production. At the moment the contract was signed, VT Manufacturing management announced it would rehire all the people that worked for Geox and would become one of Geox's suppliers. Geox, which did not disclose the value of the deal, last year sold more than 20 million pairs of shoes in 68 countries.
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