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.
Tatabánya-based Artesyn Hungary Electronics is a manufacturer of power supplies for hardware and telecommunications equipment producers. The company was established in 2001 by Artesyn Technologies Inc. Artesyn announced that it will be closing the Tatabanya, Hungary manufacturing facility, and intends to award its European manufacturing services work to Celestica Inc., a global electronics manufacturing services (EMS) provider. Most of the products currently being manufactured in Hungary will be transferred to Celestica's Romanian factory in Oradea. This transition is expected to be completed by the end of 2005. Savings in 2006 from this closure are estimated to be $6.0 million.
Eurofound (2005), Artesyn Hungary Electronics, Offshoring/Delocalisation in Hungary, factsheet number 62013, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62013.