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 parts manufacturer ThyssenKrupp opened a new plant in Jászfényszaru (around seventy kilometres east of Budapest) with a greenfield investment exceeding EUR 100 million. 500 new jobs will be created at the site by 2019. The plant will produce electric power steering systems and valve train systems for German and international Original Equipment Manufacturers (OEMs).
The new factory is the company's first in Europe to locate two different product technologies at the same site. Combining the activities will allow efficiency and cost advantages. The factory will be equipped with industry 4.0 technology.
ThyssenKrupp already employs around 1,100 people in Hungary.
Eurofound (2018), Thyssenkrupp Component Technology, Business expansion in Hungary, factsheet number 93555, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93555.
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