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 Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
600 jobs Number of planned job creations
Announcement Date
27 April 2005
Employment effect (start)
27 April 2005
Foreseen end date
31 December 2007
Description
An investment of around €20 million for the building of a factory for electrical wiring and components is forecasted to start this year in Cluj (Nord-Vest region). The announcement was made by the management of the Cluj-based company Electrosigma, a manufacturer of electronic components and spare parts for medical equipment.
CEO Arpad Paskany announced that the company has concluded a partnership with a German-American multinational, without revealing the name of its partner in the project.
Construction of the factory is expected to be completed within no more than two and a half years and will create some 600 jobs.
‘Electrosigma is a 40% partner in this venture and will provide the management force. As for the location, we are looking at the Tetarom industrial park in Cluj, but the details of the contract are yet to be finalised because the fees Tetarom wants to charge are quite high. If we fail to reach an agreement with them, we will look elsewhere’, said Arpad Paskany.
Sources
27 April 2005: Ziarul Financiar
Citation
Eurofound (2005), Electrosigma, Business expansion in Romania, factsheet number 61469, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61469.
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