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.
In September 2005, the German group Kromberg&Schubert will start building a factory in Mediaş (Centru region, Sibiu county). Construction works are expected to be finalised by March 2006. In the initial stage investments will total €10 million. The factory will manufacture special cables, network cables, cables for automotive engine compartments and plastic components. The factory will start off with 1,000 employees; the company hopes to achieve a total workforce of more than 2,000 people in the future. Kromberg&Schubert is a global supplier to the automotive components industry and has over 13,000 employees worldwide. In Romania, the group became operational in 1999, setting up a factory in Timişoara (Vest region, Timis county) which currently employs 2,600 people.
Eurofound (2005), Kromberg and Schubert, Business expansion in Romania, factsheet number 62305, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62305.