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.
The Hungarian manufacturer of automotive parts, FHL Björn, completed a development project at its Mór and Tamási production facilities. Thanks to the investment, 191 new jobs have been created.
The project entailed the introduction of a complex corporate governance system. Besides that, the firm purchased tube processing machines, a bar code reading system, industrial robots and soldering machines. In this way, not only the production capacity has increased, but the firm will also be able to keep up with the high-quality requirements of its customers, among which Volkswagen is the most prominent.
The total investment cost was €1.6 million. The firm received a subsidy of €0.8 million from EU funds, under the aegis of the Economic Development and Innovation Operational Programme.
FHL Björn was founded in 1996. Originally, it only produced tube radiators, then, in 1999, it expanded its product portfolio with manufacturing automotive parts – mostly engine-related tube parts.
Eurofound (2021), FHL Björn Hungary, Business expansion in Hungary, factsheet number 104589, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/104589.