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.
Alfod es Eszak; Eszak-Magyarorszag; Borsod-Abauj-Zemplen
Location of affected unit(s)
Miskolc
Sector
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27.12 - Manufacture of electricity distribution and control apparatus
300 jobs Number of planned job creations
Announcement Date
5 October 2017
Employment effect (start)
1 July 2017
Foreseen end date
1 January 2021
Description
Hong Kong-based electronic charger and power supply manufacturer Ten Pao opened its new production plant and connecting office units in Misckolc, northern Hungary. Operating with a 17-strong staff since July, the 2,600 square meter factory will create 300 new jobs. Targeting a USD 100 million (EUR 85.2 million) production output by 2021, the factory will produce charging units, printed circuits and automatic switches.
Ten Pao, with the first step of a HUF 4.5 billion (EUR 14.6 million) investment, chose Miskolc for the location of its first non-Asian facility as most of its partners are based in Hungary.
Sources
5 October 2017: 24.hu
5 October 2017: boon.hu
Citation
Eurofound (2017), Ten Pao, Business expansion in Hungary, factsheet number 92328, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/92328.
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