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 For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.32 - Manufacture of other parts and accessories for motor vehicles
500 jobs Number of planned job creations
Announcement Date
10 March 2016
Employment effect (start)
1 April 2016
Foreseen end date
31 December 2016
Description
Star Transmission, the Romanian division of German-owned car group Daimler, has completed the construction of a new plant in Sebes (Alba) with an investment cost totaling some 300 million euro (USD 334.36mn). Some 500 new jobs are expected be created as a result of this business expansion. The new plant, which will officially open in April, will produce and assemble next-generation gearboxes for Mercedes-Benz cars. The long-term plan is to create 2,000 new jobs in Alba.
Sources
4 April 2014: Wall-Street.ro
15 May 2016: digi24.ro
16 May 2015: Wall-Street.ro
10 March 2016: Ziarul Financiar
Citation
Eurofound (2016), Star Transmission, Business expansion in Romania, factsheet number 86676, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86676.
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