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.
Sandvik Chomutov Precision Tubes, the Czech manufacturer of special stainless-steel tubes, plans to expand its production and to employ another 70 people in early 2020. Flexible tubes are used to control oil platforms. This year, the company plans to produce 9,000 tonnes for mining projects in Mozambique. Sandvik is to expand its production of hydraulic pipes and heat exchangers, which are used in refineries. The new production will start in January 2020. With full operation in the second half of 2020, a production of 4,500 tonnes per year is expected. The company will invest approximately CZK 400 million (€15.65 million) in new machinery at its Chomutov site.
Sandvik Chomutov Precision Tubes, subsidiary of the Swedish group Sandvik, currently employs 630 people. Globally, Sandvik employs around 42,000 people.
Eurofound (2019), Sandvik Chomutov Precision Tubes, Business expansion in Czechia, factsheet number 98120, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98120.