Type
Closure
Country
Hungary
Region
Alfod es Eszak; Eszak-Magyarorszag; Nograd
Location of affected unit(s)
Rétság
Sector
Manufacturing
Manufacture Of Computer, Electrical Electronic And Optical Products
Manufacture Of Electrical Equipment
27 - Manufacture of electrical equipment

120 jobs
Number of planned job losses
Job loss
Announcement Date
2 March 2006
Employment effect (start)
Foreseen end date
31 March 2006

Description

Japanese company TDK, a major producer of magnetic products, set up the plant in Rétság (Nógrád county) ten years ago, and employed up to 1100 people. However, production volume and employment have been shrinking for years, and now one of four divisions, the production of ferrite cores for transformers, will be closed due to competitive pressure on the European market. Rumours that the plant will be relocated to Ukraine where not confirmed by the company. When coming to Hungary, TDK received state subsidies and was granted a ten year tax break.


Sources

Citation

Eurofound (2006), TDK Elektronika Magyarország, Closure in Hungary, factsheet number 63119, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63119.