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.
Siemens, German multinational electronics company, is to invest € 50 million in its Vienna-Simmering production site by 2014, thereby creating 200 jobs.
In October 2011, all global activities in Siemens' MCL (metro, coaches and light rail) unit were bundled in Vienna. The company is currently producing trains for Warsaw, Oslo, Vienna, Munich and Den Haag amongst others. The reason for the investment and expansion of its capacities in the Simmering branch lies in the fact that some 600 tenders for light rail and subway projects are to be called for within the next years and Siemens aims to improve its market share.
Siemens currently employs 750 people in Vienna.
Eurofound (2012), Siemens Österreich, Business expansion in Austria, factsheet number 73120, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73120.