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.
Manufacturing Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.30 - Manufacture of agricultural and forestry machinery
150 jobs Number of planned job creations
Announcement Date
5 May 2020
Employment effect (start)
1 January 2021
Foreseen end date
Description
Yaris Kabin, the Turkish firm operating in the sector of agricultural equipment, manufacturing tractor and heavy construction vehicle security cabins, is building a production plant in Iváncsa. This business expansion will create 150 new jobs during the first phase, but a further expansion of production capacity and workforce is envisaged in the future.
The Iváncsa plant is Yaris Kabin's first production site outside Turkey. It will start operating in early 2021, producing cabins for tractors and earthmoving machinery, but also research and development activity will be conducted at the facility. Most of its output will be exported to Germany and Italy, and the investment cost exceeds €20 million, 8% of which is provided by the Hungarian state as a non-refundable subsidy.
Yaris Kabin is a leading producer of agricultural machinery cabins within Turkey, and it has also a market share of 20-25% in Europe.
Sources
5 May 2020: Hungarian Investment Promotion Agency (hipa.hu)
Eurofound (2020), Yaris Kabin Hungary, Business expansion in Hungary, factsheet number 100696, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/100696.
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