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.
FAG Magyarország, a Hungarian subsidiary of the German-based Schaeffler group, opened its new production hall in Debrecen in mid-January. As the plant openened, 190 jobs have been created; the total employment effect of the investment amounts to 500 new employees, with a hiring process that is to be completed in 2020. The €80 million investment, to which the Hungarian government provided a subsidy of nearly €10 million, also included an extension of service areas and expansion of technological capacities.
The new production hall will produce premium quality automotive parts, primarily bearings and transmission components. The new BMW plant in the same city, for which the building is currently under preparation, will be among the buyers of FAG products.
Eurofound (2019), FAG Magyarország, Business expansion in Hungary, factsheet number 96512, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96512.