Economy
A major employer in the town is a bearings factory (part of the NSK group) with around 200 employees. Another notable employer in the town is Laurens Patisseries, part of the food group Bakkavör since May 2006 when bought for £130m, claims to be the largest cream cake manufacturer in Europe employing over 1000 people. It supplies desserts to Tesco. Dessert Company on Brunel Drive closed in March 2000 with the loss of 700 jobs when Laurens received the Tesco order which they had supplied. In 2007, Currys opened their £30m national distribution centre next to the A17 near the A46 roundabout, and Dixons moved its national distribution centre there in 2005, with over 1,400 staff employed at the site during peak times. PJ Smoothies used to be a main manufacturer in the town until 2007, when production was moved by new owners Pepsico to Boxford in Suffolk to be made by Copella. Ingersoll Dresser have a pumps factory. Project Telecom on Brunel Drive was bought by Vodafone in 2003 for a reported £163m. Since 1985 Newark has been host to the biggest antiques fair in Europe, the Newark International Antiques & Collectors Fair, held bi-monthly at Newark Showground. Although much of the pine furniture making has ceased in the last 10 years Newark is still known for its antiques shops and centres.
Read more about this topic: Newark-on-Trent
Famous quotes containing the word economy:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)