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.
Polaris, an American firm that manufactures All-terrain vehicles (ATVs), is to create 500 new jobs in Giurgiu with the construction of a new site. Management at Polaris have stated that the new plant will produce ATVs, will have a capacity of 60,000 units a year, and will involve an investment of 50 million EUR. Bogdan Gheorghiu, Polaris regional manager for Romania, Bulgaria and Moldova, stated:
‘The difference in European legislation, which allows these vehicles to be driven on public roads, unlike in the USA, has led to booming sales in ATVs in Europe over the past eight years. This was the reason why Polaris decided to build a plant in Romania,’
Mr. Gheorghiu added that Romania was specially selected because it is an EU member and also has better infrastructure than Bulgaria. Polaris is currently searching for a suitable site within Giurgiu, and construction work on the new site is scheduled to begin in the middle of 2008. As of September 2007, there is no information on when employment at the site will commence.
Eurofound (2007), Polaris, Business expansion in Romania, factsheet number 65806, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65806.