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.
The bankruptcy procedure has been initiated against Finnish company Helkama-Forste in Hungary and the dismissal of 112 employees has been notified to the regional employment centre. The company is based in Tata and produces refrigerators.
In 2008, the Hungarian site had become the company's innovation centre with an initial investement of 4 million euro; in 2009, another 2,1 million euro were invested in the site expansion. The intention was to attract the international beer and beverage producers.
The Finnish Helkama Group has been a family business for more than 100 years and also operated in care trade and the manufacture of bicycles and cables. Another refrigerator manufacturing site is located in Vyborg, Russia with a total of 360 employees supplying the Russian market.
Eurofound (2010), Helkama-Forste, Bankruptcy in Hungary, factsheet number 71253, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71253.