IPTE unit closes Slovakia plant

BRUSSELS, Oct 20 (Reuters) - Belgium's IPTE (IPTE.BR) said on Monday that its subcontracting division Connect Systems is closing its Slovak plant and transferring all activities to its Romanian plant in an effort to cut costs.

Connect Systems CEO Luc Switten said in a statement that maintaining two cabling factories led to "production inefficiency, growing operating costs (stock control) and double management".

"The location and structure of the Slovakian plant also limited any expansion," he said.

The transfer of all cabling activities from Slovakia to Romania would be finished by March 31, 2009, the statement added. (Reporting by Antonia van de Velde; Editing by Paul Bolding)