Tatra

Type
Business expansion
Country
Czechia
Region
Česko; Moravskoslezsko; Moravskoslezský kraj
Location of affected unit(s)
Kopřivnice
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
29.1 - Manufacture of motor vehicles
29.1 - Manufacture of motor vehicles
500 jobs
Number of planned job creations
Job creation
Announcement Date
26 March 2010
Employment effect (start)
1 April 2010
Foreseen end date

Description

The Czech truck maker Tatra has announced that it will re-employ approximately 500 people who were laid off last year due to a fall in sales of 45 percent (see related fact sheet No 14466). The firm faces a serious financial loss and still owes the bank one billion CZK. Shareholders have agreed to pledge the entire company's assets as a bank guarantee. Consequently, the company is to restore the full production as of 1 April 2010.

Sources

  • 26 March 2010: Finanční noviny

Citation

Eurofound (2010), Tatra, Business expansion in Czechia, factsheet number 70367, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70367.