Yazaki Samoa

RNZ reports the automotive component manufacturer, Yazaki, announced this week it will shut down at the end of next year, putting up to 740 people out of work.

The company said the closure is due to the car manufacturing industry in Australia winding down.

The Chamber's CEO, Hobart Vaai, said they are working with Yazaki, and government and private sector partners to minimise the impact the closure will have on the country's economy.

"It's shocking but you know, we're just staying positive," he said.

RNZ reports the automotive component manufacturer employs 740 people in Samoa.

Following the announcement the company said it was preparing a final payment package that far exceeded anything paid out in the country before.

A date for Yazaki's 2017 closure has not been finalised.

The company's President, Craig O'Donohue, said Yazaki is fully committed to providing support for their employees as well as to provide support for the government's growth strategy.