Brightstar sold its plants for $1 and is leaving Argentina

Brightstar, a company that manufactures Samsung and LG cell phones, was able to close the sale of its businesses in Argentina. The US-based company received in exchange the symbolic amount of $1. The operation contemplates the transfer and continuity of two plants and 526 direct employees. In addition to the industrial part, it transferred a company dedicated to providing technical services to cell phones and the commercialization of consumer electronics products and accessories of several brands. The American parent company Brightstar agreed to pay $4.5 million to compensate 17 executives. The unions, which gave up claims to avoid layoffs.

Source: Clarín