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.
Vulcan Shield Hungary, a Hungarian subsidiary of a Singapore-based insulation-materials producer, has already begun recruiting for its new production site in Békéscsaba. The construction of the new plant is set to begin in July-August this year and will be completed by the end of 2027, according to the plan.
Pilot production already begun around mid-June in a rented production hall, with 12 full-time employees. The number of workers will reach 300-500 by the end of this year, and the aim is to reach 2,500 by 2030. The firm will manufacture ultra-high-temperature resistant insulating materials for the automotive, aircraft, aerospace and electronic industries.
The company's aim is to recruit Hungarian-speaking workers, preferably from the county and the surrounding region. The recruiting effort has been met with a very high number of applicants, ranging from semi-skilled workers to senior managers. This is due to the fact that the company offers wages above the county-level and regional average, a bonus system, cafeteria and career advancement. The investment cost may reach €700 million.
Eurofound (2026), Vulcan Shield Hungary, Business expansion in Hungary, factsheet number 300609, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/300609.