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 Manufacture Of Wood And Paper Materials Manufacture Of Wood And Of Products Of Wood And Cork, Except Furniture; Manufacture Of Articles Of Straw And Plaiting Materials 16.21 - Manufacture of veneer sheets and wood-based panels
150 jobs Number of planned job creations
Announcement Date
24 September 2005
Employment effect (start)
Foreseen end date
Description
The Kronospan company plans to extend its production in Slovakia, by investing some SKK 3.9 billion in the establishment of a new production plant. According to the company's director for central Europe, Marcus Haberger, management has asked the Slovak government for an investment stimulus. The latter used to be provided for investments in regions with a particular high unemployment rate, which is the case for the Prešov region.
According to a new information, Slovak Government did not provide the company a state aid in amount required by the company. Therefore, Kronospan management decided to reduce the planned investment. It plans to modernise the technology in its subsidiary in Prešov. However, creation of only 150 new jobs (instead of 190) is planned there.
Sources
24 September 2005: Pravda
26 September 2005: Hospodárske noviny
24 September 2005: SME
17 October 2007: Hospodárske noviny
Citation
Eurofound (2005), Kronospan, Business expansion in Slovakia, factsheet number 62315, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62315.
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