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.
Kanus Tabbert Magyarországi has announced that it is to dismiss 150 employees. By the end of summer 2008 the plant employed approximately 400 workers, 350 of whom were employees and more than 40 were temporary agency workers. Around that time the company also inaugurated its new 1100 square meter assembly plant and celebrated its best ever fiscal year yielding HUF 100 million (EUR 328,000) profit after taxation. Problems arose with the bankruptcy of its mother company Knaus Tabbert Gmbh (KTG), one of the leading manufacturer of caravans. Though the Nagyoroszi plant is economically independent, KTG is its sole buyer. Production was ceased from November 2008, temporary agency workers' contracts were not renewed, and 70 jobs were cut shrinking the plant workforce to 270. Finally HTP bought KTG's assets, including its Hungarian plant. The new investor stated that production would resume with 605 workers in Germany (out of the original 1,200) and 120 workers in Hungary.
Eurofound (2009), Knaus Tabbert Magyarországi, Internal restructuring in Hungary, factsheet number 68425, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68425.