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 Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20.6 - Manufacture of man-made fibres
1,000 jobs Number of planned job creations
Announcement Date
3 October 2005
Employment effect (start)
Foreseen end date
30 September 2008
Description
Czech Kordárna Company, which is part of Kord group - the biggest European producer of technical fibres, established in 1992 a joint-venture company Slovkord with the Slovak company Slovenský Hodváb . The company, which produces viscose rayon, was established in 1921 and has been playing an important role in the regional employment. Around 3,500 employees worked there in the past - the figure went down to 700. In October 2005, Kordárna decided to extend the production of Slovkord and will build for this purpose a new industrial zone close to Slovenský Hodváb facilities. The new investment amounting CZK 2 billion would increase the Kord Group’s annual turnover from CZK 3.5 billion to CZK 4.5 billion.
Sources
3 October 2005: Hospodárske noviny
Citation
Eurofound (2005), Slovkord, Business expansion in Slovakia, factsheet number 62379, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62379.
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