March 22, 2017 / 11:52 AM / 9 months ago

Finland's Valmet to build new Mercedes-Benz compact cars

HELSINKI, March 22 (Reuters) - Finland’s Valmet Automotive said on Wednesday it had signed a new contract to build future Mercedes-Benz compact cars for Daimler AG.

The company said it would hire about 1,000 staff to help with its existing contract under which it manufactures Mercedes-Benz passenger cars and SUVs. The plant currently has 2,300 employees.

The facility is one of the bright spots in the Finnish economy which is slowly recovering from a decade of stagnation.

In January, Chinese battery maker Contemporary Amperex Technology Ltd bought a 22 percent stake in Valmet Automotive. (Reporting by Tuomas Forsell, editing by Jussi Rosendahl and Jason Neely)

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