Local business calls for greater protection

PALMA
THE small business association Pimem yesterday stressed upon the Balearic government the need for a special industrial plan to be drawn up to protect local companies from the credit crunch and closure.

The announcement that the century-old sanitary valve maker Buades could close with the loss of 173 jobs at its Binissalem factory and outlets on mainland Spain has set alarm bells ringing in the local business community which has already been shaken by the threat of closure of the prestigious and famous Kraft-owned El Caserio soft cheese factory in Mahon, Minorca, and the downsizing and loss of other leading international Majorcan brands such as Yanko and Majorica - not to mention the hundreds of jobs which have been lost in the Majorcan-based airline industry.