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.
Construction Construction Of Buildings And Infrastructure Engineering Civil Engineering 42 - Civil engineering
1,500 jobs Number of planned job creations
Announcement Date
26 April 2007
Employment effect (start)
1 March 2006
Foreseen end date
31 December 2007
Description
In 2004, Bechtel concluded an agreement with the Romanian government to build a motorway between Braşov (Centru region, Braşov county) and Borş (Nord-Vest region, Bihor county). After the 2004 elections, the new government repeatedly expressed its intention to abandon the project, considering that efforts should focus on developing the Pan-European IV Corridor.
In September 2005 Bechtel made redundant 570 of its employees.
On 11 January 2006, Bechtel announced that the political and financial conditions of a new agreement with the Romanian government were concluded and that construction works for the motorway would be resumed in all likelihood, starting March 2006.
In April 2007, 2,500 employees are involved in the project, of which 1,500 were hired during the first quarter 2007. The Bechtel representatives announced that in June the number of employees will increase to 3,000, to reach 4,000 by the end of this year.
Sources
27 April 2007: Ziarul Financiar
11 January 2006: Ziarul Financiar
Citation
Eurofound (2007), Bechtel, Business expansion in Romania, factsheet number 63045, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63045.
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