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 Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
500 jobs Number of planned job creations
Announcement Date
8 February 2021
Employment effect (start)
31 May 2022
Foreseen end date
31 December 2025
Description
Continental, Germany's automotive component production giant, is to create around 500 new jobs in its subsidiary in Kaunas over the next few years. The company is about to finish the construction of a new plant and to increase production capacity in the Kaunas Free Economic Zone. The investment in the new plant totals €90 million. The plant in Kaunas will be opened in the spring of 2022. Currently the company employs 472 employees. The company plans to reach a total of 1,500 employees in its subsidiary in Kaunas by the end of 2025.
Continental employs around 241,000 employees worldwide.
Eurofound (2021), Continental Automotive Lithuania, Business expansion in Lithuania, factsheet number 106162, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/106162.
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