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.
Finnish motor vehicle manufacturer Valmet Automotive recruits 250 new employees during autumn 2021. The recruitments will take place in Salo, in the southern part of Finland. Indeed, the company has received a second battery manufacturing contract for the Salo battery plant, and as a result the Salo plant production will expand into high voltage batteries for the automotive industry.
Most of the workers will be needed for positions of production, quality, and logistics, but the extension of plant operations also requires more supervisors and specialists in various fields.
According to Valmet’s Senior Vice President for EV systems, the company is growing very fast in battery business and has already announced five battery manufacturing contracts in the Salo and Uusikaupunki production sites.
In total, Valmet Automotive has been nominated for five new customer orders for battery production at its Uusikaupunki and Salo plants since 2019. In March 2021, Valmet recruited additional 1000 people.
The Valmet Automotive Group is one of the largest vehicle contract manufacturers in the world. According to their website, they employ approximately 14,000 people globally. Approximately, 480 of them are employed in Salo.
Eurofound (2021), Valmet Automotive , Business expansion in Finland, factsheet number 105249, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/105249.