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 Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
100 jobs Number of planned job creations
Announcement Date
19 September 2006
Employment effect (start)
19 September 2006
Foreseen end date
31 October 2006
Description
The German corporation Siemens has opened its first factory in Bulgaria. The investment has reached BGN 4 million so far and our intention is to increase it, said Cristian Urbanke, vice–president and member of the Board of Directors of the Power transmission and distribution (PTD) of Siemens. The factory will produce 100 instrument-measuring transformers per month. The products will be used for building the energy systems in the Siemens factory in France. Some 60 new jobs have been created so far and in October the number will increase by 40 jobs after investing some more BGN 2 million. The staff is trained by the German and French experts. The raw materials are currently imported from France, but in the future half of them could be replaced by Bulgarian ones, if the quality is good, said Urbanke. The Siemens's turnover in Bulgaria in the last financial year was over €100 million and the company expects its further growth.
Eurofound (2006), Siemens, Business expansion in Bulgaria, factsheet number 64146, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64146.
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