The company is valued at around EUR 10m, but the Slovenian company did not disclose how much it paid.

Kolektor said on Wednesday that development, production as well as administration at the Swiss company would be moved. The acquisition will strengthen the company's electronics and drives programme and secure additional jobs in Idrija.

CEO Radovan Bolko told the press that Koletor would have a full stake in Micro-Motor by 2017. The products made by the Therwil-based company present a market niche, which is why sales are expected to increase in the coming years.

Micro-Motor will move all of its operations to Slovenia and has already founded a new company to this purpose that it will enter as a partner together with Kolektor. The new company will have its headquarters in Idrija, with the move expected to the finalised by 1 January 2016.

Micro-Motor was founded in Basel in 1941. Its activities include the manufacture of motors for control valves, oil burners, roller shutters, wheelchairs, milk pumps, doors, stairlifts etc. Most of its clients are from Europe.

The company's workers in Switzerland are to lose their jobs, but the former owner is said to have looked after them. In Idrija on the other hand at least 50 new jobs will be opened.

The added value per employee at Kolektor stood at an average of EUR 45,000 last year, while it was EUR 60,000 in the Swiss company.

Kolektor management board member Darja Petrič said Kolektor was able to fund with its own money takeovers worth up to EUR 100m. Bolko added the company would continue with its own development and acquisitions above all in Western Europe.

"We are looking at companies that would supplement and upgrade concept-wise the company's programme especially in the field of the automotive industry," Bolko elaborated.