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 Manufacturing Of Furniture And Other Manufacturing Other Manufacturing 32 - Other manufacturing
120 jobs Number of planned job creations
Announcement Date
16 May 2005
Employment effect (start)
9 May 2005
Foreseen end date
31 May 2007
Description
On May 2005, YKK group have completed a €8.5 million investment in a zipper factory in Buftea (Bucharest region, Ilfov commune). The company officials have projected a €4 million turnover for 2005, which is expected to double in 2006. The current production capacity is of 35 million zippers a year, but it’s foreseen to reach 100 million zippers a year by 2010. According to the company’s estimates the Romanian textile industry needs 200 million zippers every year. YKK Romania covers about 30% of this demand, both through its domestic production and imports from members of the group outside the country.
The Japanese YKK group intends to consolidate its position on the Romanian market by making new investments, as part of its strategy to expand into Europe, Middle East and Africa.
The exact volume of future investments is yet unknown because no final decision in this regard have been made until now. According to companyÂ’s officials, the decision depends on the Romanian textile market, but might also come as a consequence of the reduction of the output at the facilities in Northern Europe.
The factory in Buftea takes up 6,000 square metres and has 60 employees. It will expand by 5,500 square metres by 2007 and hire another 60 people.
The current output is sold on the domestic market exclusively and is complemented by imported YKK products. The YKK group is also considering a more export-oriented policy for the Romanian subsidiary in the future.
Sources
16 May 2005: Ziarul Financiar
Citation
Eurofound (2005), YKK, Merger/Acquisition in Romania, factsheet number 61586, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61586.
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