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.
German automotive supplier ContiTech commissioned new facilities at its Nyíregyháza location in northeastern Hungary.
Supported by a HUF 2 billion (EUR 6.42) state grant, the HUF 6 billion (EUR 19.3 million) investment includes a second rubber mixing line, a new semi-finished production facility (using calender technology) for air bellows and a production line for hoses destined for heating and cooling applications in cars. ContiTech has also constructed a warehouse for its Compounding Centre and the construction of a logistics centre is also in progress, which will be used for air springs and hoselines.
The developments already created more than 200 additional jobs and is expected to create another 250 to 300 jobs once all of the new lines reach full capacity.
ContiTech employs around 5,000 people in Hungary, 500 of them in Nyíregyháza.
Eurofound (2018), ContiTech, Business expansion in Hungary, factsheet number 93266, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93266.