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.
The former weapon-producing company BETA will start the production of engine-powered trucks with a unique steering wheel system, executive director Tzako Bunchev announced. The production will be exported mainly to the Western Europe market. The engine-powered trucks will have a high range of lifting capacity - from 1.6 tons up to 3 and 5 tons. The new owners of the factory - Beta industries corporation - bought the bankrupted former weapon factory BETA in 2004. At the moment BETA is producing chassis for engine-powered trucks, exported to Denmark, as well as mast cranes for Germany. The management has also concluded a one-year contract with the Japanese-Swiss consortium Yanmar, which amounts to €2 million only for the first 6 months. Under this contract BETA will produce components and details for building machines. BETA is overcoming the consequences from the insolvency, said Mr Bunchev, and the orders and offers have risen by 80%. The management is planning to renew the machines and the production lines in the coming months.
Eurofound (2005), BETA-Cherven brjag, Business expansion in Bulgaria, factsheet number 62478, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62478.