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.
Swiss-American international electronics service company Variosystems AG is opening a factory in the City of Ludbreg in northern Croatia. In the first phase of the company’s plan, around 100 staff will be employed during 2018 from the town and the surrounding areas. In the second phase in the next 2-3 years, Variosystems AG plans to build its own factory and employ a few hundred more people. The company plans to invest around €10 million in Croatia.
Variosystems AG representatives were in Croatia last month meeting with officials and scouting around 15 potential locations before deciding on the town of Ludbreg, located halfway between Varaždin and Koprivnica. The Swiss-American cable business firm has rented out 800 square meters hangar in Ludbreg.
Variosystems operates all over the world and has over 1,600 employees with factories in Switzerland, America, Sri Lanka and China. In 2018, the company had sales of more than € 150 million. Their devices are intended primarily for a variety of industries, medicine, aviation and the auto industry.
Eurofound (2019), Variosystems AG, Business expansion in Croatia, factsheet number 97198, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97198.