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 29.31 - Manufacture of electrical and electronic equipment for motor vehicles
100 jobs Number of planned job creations
Announcement Date
21 November 2022
Employment effect (start)
21 November 2022
Foreseen end date
1 April 2023
Description
UK based company, Magna Electronics, which provides leading driver-assistance technologies and software development solutions to the global automotive market, has announced its intention to open an engineering services centre in Timisoara (Timis County), where it will hire 100 employees. The new engineering centre will be open in April 2023 and by the end of 2025, the company aims to have 300 new employees in Romania, specialized on ADAS components.
The company has more than 170,000 employees, 345 manufacturing operations, and 90 product development, engineering and sales centres in 28 countries. Magna has vehicle engineering and contract manufacturing expertise, as well as product capabilities, which include body, chassis, exterior, seating, powertrain, active driver assistance, electronics, mirrors & lighting, mechatronics and roof systems.
22 November 2022: Magna - press release (www.magna.com)
Citation
Eurofound (2022), Magna Electronics, Business expansion in Romania, factsheet number 107890, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/107890.
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