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.
Continental, an international automotive supplier, plans to create 150 new jobs by expanding its plant in Budapest. The decision of expanding the plant is attributed to the launch of new products and expansion of production capacity in recent years. The company invested approximately EUR 24 million in the Budapest plant in 2007 and intends to increase this amount in 2008. The largest investment project planned for 2008 is the construction of the new Electronic Braking Systems (EBS) production hall and the installation of four production lines. In the new production hall 700 people will work on 4 production lines. Of the 700 people, 150 will be new employees.
The Budapest plant, as one of the subsidiaries of the Corporation in Hungary, is engaged in the production of vehicle electronic components and microelectronic circuit modules with the help of state-of-the-art robotized technologies. The activities of the plant include the manufacturing of various comfort and chassis electronic elements, oil sensors as well as electronic control units for anti-lock braking systems and electronic stability systems. The plant with an area of nearly 12,000 m2 located in District 10 of Budapest (in Kőbánya) currently employs 1,400.
Eurofound (2008), Continental, Business expansion in Hungary, factsheet number 66714, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66714.