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.
A new arms factory, operated by the German joint venture Rheinmetall Hungary Munitions Ltd, is under construction in Várpalota, Central Transdanubia. 200 new jobs will be created, with recruitment beginning in December of 2023. The plant is to start producing medium and large-calibre ammunition in the end of 2024, with a planned extension of the product range later. The business expansion is set to be finished in 2025. The stated aim is to create a domestic military industry capacity that is sufficient to ensure the safety of the country. The joint venture is co-owned by German automotive and arms manufacturer Rheinmetall and Hungarian state-owned defence industry conglomerate N7 Holding. The Várpalota production site is part of the string of arms factories established in recent years, including another Rheinmetall plant Rheinmetall-2023-HU.
Eurofound (2023), Rheinmetall Hungary, Business expansion in Hungary, factsheet number 109338, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109338.
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