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.
On 20 March 2012, LuK Savaria, a supplier for the automotive industry, has announced the creation of 200 new jobs. The job creation is the consequence of an investment of HUF 15 billion (EUR 50 million) in Szombathely, Hungary. The company will mainly hire qualified engineers and middle level technical professionals.
Luk Savaria currently employs 1,700 employees. This number will be increased to 1,900 until the end of 2012 and to 2,400 until the end of 2014. Additionally, the company is one of the first companies to participate in a recently introduced dual education system in Hungary. LuK Savaria has just signed the cooperation contract with the Széchenyi Istvan University of Győr.
LuK Savaria is a member of the German Schaeffler group, manufacturing clutches and flywheels in Hungary since 1997. Their products are built into the cars of BMW, Audi, Ford, Fiat, Peugeot, Mercedes, Isuzu, Opel and Hyundai.
Eurofound (2012), LuK Savaria, Business expansion in Hungary, factsheet number 73301, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73301.
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