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.
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.
Eurofound (2022), Magna Electronics, Business expansion in Romania, factsheet number 107890, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107890.