One of Greece’s oldest factories; formerly known as Pitsos and founded in 1865, is shutting down.

Renamed BSH Hellas; after the acquisition by German Bosch-Siemens Hausgerate, the factory based in Renti, south of Athens, is to shut down by the end of 2018.

The company’s management announced a voluntary redundancy program for its 250 employees.

The program started on October 2nd, and will end on November 10th.

According to the administration’s statement, “from 1 January 2018, the plant in Athens will not be able to support the construction of any of the Group’s products, with the result being the decision to suspend its productive activity”.

The company has a number of other facilities in Greece, as well.

Pitsos first started out as a company that manufactured small household appliances and oil heaters.

In 1959 it began its production of fridges in a new factory, and it soon invested heavily on the development and production of a wide range of modern home appliances, including TV sets.

Other metal structures; including 3-wheel pickup trucks, were also produced.