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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.99 - Manufacture of other transport equipment n.e.c.
450 jobs Number of planned job creations
Announcement Date
24 November 2021
Employment effect (start)
24 November 2021
Foreseen end date
31 December 2023
Description
Corratec, a German company that manufactures bicycles, will invest €10 million in a new production facility in Timisoara (Timis County). The company plans to launch production in Romania in February 2022 with an annual manufacturing capacity of 300,000 bicycles. Initially, the factory will generate around 450 jobs over the next 24 months. According to the current business plan, the workforce will increase to a maximum of 600 employees.
With the new facility in Timisoara, Corratec will add production capacity of around 300,000 electric bicycles to its existing factory in Raubling, Germany. Production of state-of-the-art custom-made bicycles will remain in Germany.
The company was established in 1990 in Raubling, Germany.
Eurofound (2021), Corratec, Business expansion in Romania, factsheet number 105783, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/105783.
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