Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Vajda-Papír, the Hungarian paper producer, is going to create about 100 new posts, as a consequence of the rise in the demand for sanitary paper products. The new workforce will be distributed among the firm's three production sites located in Hungary.
The business expansion is justified by the jump in the demand for sanitary paper products caused in recent months by the COVID-19 pandemic. As a response to the augmented requests - both inside and outside Hungary - the firm has already introduced a three-shift system and, in March, it increased its output by 50%. According to the assessment of the management, the elevated demand will partially persist in the time, since the COVID-19 pandemic resulted in a qualitative shift in the attitudes of the people toward personal hygiene.
Vajda-Papír is the principal domestic producer of sanitary paper products in Hungary that - in addition to its domestic sales - exports 40% of its output into more than 20 European countries.
Eurofound (2020), Vajda-Papír Gyártó, Business expansion in Hungary, factsheet number 100586, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100586.
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