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.
OÜ Shroma, a metal construction company in North-East Estonia, is planning to expand its manufacturing line and create 150 new jobs during 2017. The company announced that due to increased demand, they plan to expand their manufacturing line by building a new hangar to manufacture metal structures thereby investing EUR 2 millions and recruiting up to 150 new employees. The company’s executive board member explained that the new state funded job creation support measure, made specifically to cultivate job creation in East-Estonia, has encouraged them to go ahead with their business expansion and job creation plans. Still, the company will not rush, but plans to discuss all the necessary nuances with the local unemployment insurance fund. However they expect the construction of the new manufacturing building to be completed within the next year.
The new state funded job creation support measure bill was passed by the government in April. According to the measure requirements, companies that hire 20 unemployed people within one month in the East-Estonia county, are eligible for support paid by the Estonian unemployment insurance fund that is 50% of employees gross monthly salary up to 12 months.
Shroma currently has around 80 employees that up until 2009 were mainly involved in catering, but due to the economic crisis has since then been increasingly involved in metal structures manufacturing.
Eurofound (2016), OÜ Shroma, Business expansion in Estonia, factsheet number 88383, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88383.
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