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.
German group Stabilus, one of the world's largest producer of gas springs and hydraulic dampers for ergonomic seats, used in the car industry will invest over €10 million to build up a gas springs plant in Braşov (Centru region, Braşov county).
‘This investment secures Stabilus a competitive edge in the sector of ergonomic seats, on a market where competition between Asian and East European producers is fierce', said Arno Guellering, general manager of Stabilus Romania.
The management forecasts turnover worth €30 million after its first year of activity, and estimates that two years will be needed to recover the costs.
The new plant, with an area of 9,400 square metres, will start production in October 2005. The plant's annual production capacity will stand at 6.5 million gas springs, which are to be entirely exported.
Stabilus main customers in the car industry include BMW, Audi, Renault and Citroen, but the company also produces gas springs for ergonomic seats aimed at the furniture industry.
For the beginning, the Braşov factory will have 60 employees, whose number will grow to 220 by February 2006.
‘When the plant becomes 100% operational, we will consider manufacturing here other products designed by the other plants of the group, as well', added Guellering.
A crucial factor in choosing Braşov was the region's high percentage of skilled workforce in the sector of mechanic engineering. ‘The industrial tradition of the region weighed heavily in our choice'.
Eurofound (2005), Stabilus Romania, Business expansion in Romania, factsheet number 62210, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62210.
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