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.
South Korean battery parts manufacturer Shinheung completed a major expansion of its productive capacities at its factory in Monor, Central Hungary, representing the company’s first production site in Europe. The investment has created 700 new jobs, linked to the ramp-up of manufacturing activities.
The Monor plant produces battery parts for electric vehicles. The expansion enables the facility to produce 20 million battery parts per month, strengthening its role as a supplier to major global automotive manufacturers. The move is part of a reshoring strategy aimed at strengthening Hungary’s position in the electric‑vehicle supply chain and supporting the green transition.
The investment cost was approximately €115 million, of which the Hungarian government contributed €9 million as a non-refundable grant. The government deems the expansion helpful in strengthening the country’s role in the European electric vehicle supply chain.
Eurofound (2025), Shinheung SEC EU, Business expansion in Hungary, factsheet number 203593, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203593.