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.
Knorr-Bremse AG, a German manufacturer of brake systems, has announced the creation of 130 new jobs with the development of a new production facility in Budapest. Out of the 130 new jobs, 30 jobs will be for qualified workers. This business expansion will affect two main units in Hungary: one unit located in Kecskemét (central Hungary) which produces pneumatic and electro-pneumatic systems and the other located in Budapest where electronic systems are designed and tested. The total investment amounts to HUF 10 billion (approximately €43,7million), including € 1 million in investment subsidies from the state to expand the production of brakes for rail vehicles. Also a new experimental laboratory will be built and R&D-related activities will be developed further. Knorr-Bremse announced in December 2007 to invest more than HUF 3 billion into the expansion of R&D activities in Hungary by the end of 2009, making the Hungarian units the largest R&D unit for the company. Knorr-Bremse currently employs 600 workers of whom 200 are engineers.
Eurofound (2008), Knorr-Bremse Vasúti Jármű Rendszerek Hungária Kft., Business expansion in Hungary, factsheet number 66851, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66851.