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.
US water technology firm Xylem announced that it will expands its productive capacity by establishing a new production site in Abony, Central Hungary. As a result of the investment, 80 new jobs will be created. The company has already begun recruitment.
The unit will produce pumps for various sectors, like the automotive industry, food industry and the shipping sector. The investment is implemented with the firm's own resources, the investment cost is nearly €2.9 million.
For the new plant, machinery will be transferred from a Xylem unit in England. The first phase of the three-phase development is to be finished by August 2021, hence the new plant is expected to start operating in September, at one-third of the final productive capacity. The investment is planned to be completed in the fourth quarter of this year.
Xylem has already a production site in Cegléd that operates as a centre of excellence. With the Abony plant, the firm hopes to double its sales revenue – currently roughly €30 million – by 2022.
Eurofound (2021), Xylem Water Systems Magyarország, Business expansion in Hungary, factsheet number 104929, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/104929.