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.
The French tyres manufacturer Michelin is to hire 400 persons at the metallic cord factories in Zalau (Salaj County) and Floresti (Prahova) by the end of 2019. The manufacturer invested €60 million in Zalau factories in 2017 creating 140 jobs. Michelin Zalau Cord was built as a green field investment in 2003-2004 and it has a total employee base of around 500.
Michelin Group entered the Romanian market in 2001 and it has invested over €400 million since then. At present, Michelin Romania employs around 3,500 people in three factories - two are located in Zalau (Salaj County) and one in Floresti (Prahova County).
The group has also a commercial network and a Center of Excellence and Shared Services, which provides support to various Michelin subsidiaries around Europe. The Group’s business activities for 12 countries are coordinated from Bucharest.
The group announced that it intends to hire 1,500 persons over the next 5 years.
Eurofound (2019), Michelin Romania, Business expansion in Romania, factsheet number 97508, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97508.