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.
Continental Hungary, part of the German manufacturer for automotive components Continental, has announced the hiring of 217 employees at its unit in Budapest until the end of 2012. The company has just won a subsidy of HUF 306 million (EUR 1 million) from the New Hungarian Development Operative Program and completed the development of a 1600 square metres production hall in Budapest.
The Budapest plant is engaged in the production of vehicle electronic components and microelectronic circuit modules by means of state-of-the-art robotized technologies. The activities of the plant include the manufacturing of various comfort and chassis electronic elements, oil sensors as well as electronic control units for anti-lock braking systems and electronic stability systems.
In total Continental Hungary employs 1,700 people at the Budapest plant (this includes temporary agency workers). 300 of them are highly qualified engineers. The company employs 6,300 all over Hungary.
Eurofound (2012), Continental Automotive Hungary, Business expansion in Hungary, factsheet number 73078, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73078.