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 Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.15 - Manufacture of bearings, gears, gearing and driving elements
35 jobs Number of planned job creations
Announcement Date
23 January 2017
Employment effect (start)
Foreseen end date
Description
Finnish manufacturer of industrial and wind turbine gears Moventas has announced a €17 million investment in Finland leading to the recruitment of at least 35 new employees. The investment is due to an increased demand of Moventas' Exceed series gears, which is why both the wind gearbox assembly and the testing capacity at Moventas's manufacturing facilities in Jyväskylä will be expanded. The upgraded facility will be fully functional during the first quarter of 2018, but 35 new employees will be hired already during 2017. Over the longer term Moventas expects to hire more than 100 new employees.
Moventas currently has 350 employees in Jyväskylä and the company has had a few difficult years with internal restructuring in both 2014 and 2012, as reported by the ERM. The company's wind turbine gears are exported primarily to India as well as North and South America.
Sources
23 January 2017: YLE
23 January 2017: Company press release (Moventas)
Citation
Eurofound (2017), Moventas, Business expansion in Finland, factsheet number 89960, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89960.
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