A £300m-turnover Swiss telecoms and electronics company is the latest foreign firm to be attracted to Britain by low labour costs and advantageous manufacturing conditions.
Huber + Suhner, a communications technology specialist, makes electrical connectors and cables, energy and signal transmission systems.
Following capacity constraints at its main European plant at Herisau near Zurich, it has invested £3.5m in electroplating and water treatment facilities at its Bicester assembly plant in Oxfordshire.
The fully automated facilities will cut out costly subcontracting work in Switzerland and reduce its average assembly workers’ wage bill by two thirds.
Swiss labour costs average three times those of the UK, said a Huber + Suhner executive. Swiss assembly workers earn about £25,000 a year.