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.
Magna Steyr, specialist in automotive engineering and vehicle assembly, is to increase its workforce by 1,200 employees at its production site in Graz by mid-2011. The automobile industry in Styria has picked up again and is recovering after major declines in sales and turnover as an effect of the global economic and financial crisis. The Magna's production site in Graz plans to increase the yearly vehicle production target from 100,000 to 130,000. Thereby, by mid-2011 the number of employees is to be increased from 5,300 to 6,500, as announced by Magna Europe's director Mr Hödl. He sees potential in the Russian and Asian markets.
Eurofound (2010), Magna Steyr, Business expansion in Austria, factsheet number 71314, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71314.