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U.S. Firm Globe Motors Sets Up Shop In Portugal

In recent news, U.S. company Globe Motors revealed its plan to establish a $41 million operations facility in Portugal. This will be Globe's first European facility. Globe, a maker of miniature motors and actuators for the automotive and aerospace industries, plans to hire 300 people and will manufacture electric motors for the automobile assisted-power steering system at its Portugal site.

  [ 7/1/2002 ]    Related Link...  Print This Article  Reprint/License This Article  

The Dayton, Ohio,-based firm received about $7.6 million in financial incentives, as well as fiscal and training assistance, from Portugal's Economic Operational Program.

"Portugal's competitive costs in the European market, flexibility and quality of the labor force, easy access and logistics were determining factors in the site selection decision," according to Antonio Clemencio, general manager of Globe Motors in Portugal.

 



 
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