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 Basic Metal And Fabricated Metal Products Manufacture Of Fabricated Metal Products, Except Machinery And Equipment 25.93 - Manufacture of wire products, chain and springs
120 jobs Number of planned job creations
Announcement Date
12 April 2006
Employment effect (start)
Foreseen end date
31 December 2006
Description
Milan based company Redaelli Tecna decided to invest in Slovakia. Romania and Hungary had also been considered. The investment is a response to the continuously increasing production of radial tyres. Redaelli Sodetal Slovakia will produce steel cords for these products. Most customers of Redaelli Tecna (Pirelli, Michelin, Goodyear, Continental, Hankook etc.) have relocated their production units from Western Europe to Central and Eastern Europe. Director General of Redaelli Tecna Group, Maurizio Prete, argues that the company needs to move as close as possible to their main customers. It is assumed that the main customers of the new production plant located near Košice will be Continental, Goodyear and Dunlop. Technology for the new plant will be relocated from Redaelli Sodetal's site in Tronville, France. 120 employees are supposed to reach an annual production capacity of around 6,000 tons of steel cord by the end of 2006. Company management plans to double these figures in the next two years.
Sources
12 April 2006: Hospodárske noviny
Citation
Eurofound (2006), Redaelli Sodetal Slovakia, Business expansion in Slovakia, factsheet number 63323, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63323.
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