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.
Motor manufacturer Ford are to create 5100 jobs in Romania after acquiring the former Daewoo plant in Craiova. In taking over the plant, Ford has committed itself to making a direct investment of 675 million EUR in the site and also creating the new jobs by the end of 2011. Ford also says that the plant will produce 300,000 vehicles and 300,000 engines by the end of 2011. John Fleming, Ford’s Chairman and Chief Executive in Europe, stated that investment in the plant will reach 1 billion EUR by 2012.
Ford’s new site will mark the entry of a second major carmaker into Romania, after Renault acquired the Dacia plant in Pitesti. It is also hoped that Ford’s investment will contribute to the development of the Craiova area.
Eurofound (2007), Ford, Merger/Acquisition in Romania, factsheet number 65618, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65618.