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 Rubber And Plastic Products 22.11 - Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres
140 jobs Number of planned job creations
Announcement Date
29 March 2017
Employment effect (start)
29 March 2017
Foreseen end date
31 December 2018
Description
The French tyres manufacturer Michelin is to create 140 new jobs at the metallic cord factory in Zalau (Salaj County). The manufacturer intends to invest €60 million in this factory, which is a strategic unit for Michelin because it produces essential components for tyres. Michelin Zalau Cord was built as a green field investment in 2003-2004 and it has a total employee base of 350.
Michelin Group entered the Romanian market in 2001 and it has invested over €400 million since then. At present, Michelin Romania employs around 3,300 people in three factories - two are located in Zalau (Salaj County) and one in Floresti (Prahova County).Â
The group has also a commercial network and a Center of Excellence and Shared Services, which provides support to various Michelin subsidiaries around Europe. The Group’s business activities for 12 countries are coordinated from Bucharest.
Sources
29 March 2017: angajatorulmeu.ro
29 March 2017: Bursa.ro
29 March 2017: Profit.ro
29 March 2017: Wall-Street.ro
Citation
Eurofound (2017), Michelin Romania, Business expansion in Romania, factsheet number 90617, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90617.
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