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.
The Romanian Agency for Foreign Investments (Agenţia Română pentru Investiţii Străine, ARIS) announced that the Belgian group UCO Textiles was investing around €15 million in a brownfield-type project, developed in a building belonging to Giurgiu industrial park (Sud region).
The investment will take the form of a factory producing denim-type fabrics for jeans. Production is set to begin in September 2005, followed by a gradual extension of production capacity.In the first stage 200 jobs will be created
The UCO Textiles Group specializes in completely-processed materials, from the initial phase (cotton) to the end-product (finished fabric). Worldwide, the group has two production units in Belgium and two in the United States with a production capacity of 26 million metres of fabric between them.
The factory in Giurgiu is the first to be opened by UCO Textiles in Eastern Europe.
Eurofound (2005), UCO Textiles, Business expansion in Romania, factsheet number 61751, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61751.