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.
Alfod es Eszak; Eszak-Alfold; Szabolcs-Szatmar-Bereg
Location of affected unit(s)
NyÃregyháza
Sector
Manufacturing Manufacture Of Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Rubber And Plastic Products 22.11 - Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres
250 jobs Number of planned job creations
Announcement Date
10 May 2005
Employment effect (start)
1 September 2005
Foreseen end date
Description
Michelin is currently the third largest tyre manufacturer in the world. The France-based company built a new tyre plant in NyÃregyháza, Hungary. The increasingly growing market demand in central-eastern-Europe was the reason behind the decision on the plant expansion of €60 million. The investment will create 250-300 jobs. This is the first time that motor car tyres will be manufactured in Hungary. Michelin Hungária Abroncsgyártó Ltd. has so far manufactured tires for agricultural vehicles in its plant in NyÃregyháza, and truck tyres in its headquarters in Budapest. 93% of the sales of the company with 2,000 employees are exported.
Sources
10 May 2005: Népszabadság
10 May 2005: Világgazdaság
Citation
Eurofound (2005), Michelin Hungária Abroncsgyártó, Business expansion in Hungary, factsheet number 61552, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61552.
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