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 Siemens group announced the opening of a factory manufacturing electronic components and appliances in Sibiu (Sibiu county, Centru region). The core activity in the new factory SIMEA (Siemens Industrial Manufacturing Engineering and Application) is manufacturing, namely production processes requiring a high volume of manual work currently performed by 60 employees. Over the following two years however, company officials expect the number of employees to grow to around 400. SIMEA manufactures electronic components and appliances, mainly plates for refrigerators and washing machines.
The company also announced the opening of a second factory in Timişoara (Timiş county, Vest region) in October 2006, with a €25 million investment.
The opening of new factories in Romania is part of the group's development strategy intended to consolidate its position on the market. Siemens is currently present in nine cities around the country and reported a turnover of €200 million for 2004.
Eurofound (2005), SIMEA, Business expansion in Romania, factsheet number 62684, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62684.