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.
Manufacturing Manufacture Of Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Other Non-Metallic Mineral Products 23.20 - Manufacture of refractory products
100 jobs Number of planned job creations
Announcement Date
30 December 2012
Employment effect (start)
1 December 2013
Foreseen end date
7 October 2014
Description
Viru Keemia Group AS, the largest shale oil and chemicals manufacturer in Estonia, announced on 07-10-2014 that it has opened its new plant (Petroter II) creating 100 new jobs and 400 indirect jobs. The company started building the plant two years ago and announced back in the end of 2012 that it will recruit new workers and increase the salaries of some employees in 2013. The pay rise affected those working in specialities (such as chemical techologists) where labour force deficit is evident and pay rise was necessary in order to stay competitive and hold on to qualified workers. The whole project cost €65 million and with investments to energy system around €150 million. According to the Prime Minister of Estonia, the new plant is a step towards energy independence and energy security, in addition this leads Estonia one step closer to its own diesel fuel production, which is also important from the energy security perspective.
Sources
7 October 2014: Aripaev
30 December 2012: Aripaev
Citation
Eurofound (2012), Viru Keemia Group, Business expansion in Estonia, factsheet number 74739, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74739.
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