Yazaki Saltano, a Japanese multinational that produces vehicle cables, has three units in Portugal, employing 2,788 workers. On 18 January 2007, Yazaki Saltano announced the closure of the Ovar factory, which employs 533 people. The decision is justified by the transfer of the production to Slovakia and Turkey. The company has approved a 'support plan' for its workers in order to help them find a new job or create their own enterprise. Additionally, the company has an agreement with IEFP - The Employment and Vocational Training Institute (Instituto de Emprego e Formação Profissional) in Aveiro, by which technical staff will be available to support the workers when they register in the employment centre. They will also be provided with vocational training courses and advice on job interviews. Yazaki Saltano will offer a compensation package of 1.75 wages per year of service, plus 2 wages and an additional bonus corresponding to 2 other months. In the meantime, Yazaki Saltano is to set up a European prototype centre which will create 150 jobs and where some of the affected employees in Ovar may be offered a transfer. The location of this centre is still unknown.