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 Manufacturing Of Furniture And Other Manufacturing Other Manufacturing 32.30 - Manufacture of sports goods
70 jobs Number of planned job creations
Announcement Date
24 December 2016
Employment effect (start)
3 January 2017
Foreseen end date
31 March 2017
Description
Elan, a producer of sports equipment and yachts based in Begunje (Gorenjska region), will expand its production and recruit new workers in 2017. In 2008 Elan was granted an unlawful state aid of €10 million, which had to be paid back to Slovenian authorities and left the company on the brink of survival. Due to difficult times, Elan came under the management of the Bank Assets Management Company (BAMC), the country's "bad bank". In 2015 the company was sold to Bank of America Merrill Lynch, which resold it to the Russian investment fund VR Capital. Elan has now recovered and is planning to expand its production and employ from 70 to 80 additional workers in the first trimester of the year 2017.
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Sources
24 December 2016: Dnevnik
Citation
Eurofound (2016), Elan, Business expansion in Slovenia, factsheet number 89691, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89691.
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