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 Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
100 jobs Number of planned job creations
Announcement Date
26 July 2022
Employment effect (start)
26 July 2022
Foreseen end date
31 December 2023
Description
German automotive component manufacturer Hella Lithuania is to create around 100 new jobs in Kaunas free economic zone by the end of 2023. The automotive technology company Faurecia acquired an 80% stake in Hella at the beginning of 2022. The cooperation between these companies is expected to lead to further rapid growth of Hella Lithuania. The company has announced that it intends to invest more than €30 million in development and hire more than 100 new employees in Kaunas in the coming years. The number of employees in Hella Lithuania is expected to reach around 400 by the end of 2023.
Hella Lithuania belongs to Forvia group which was formed after the successful completion of the acquisition of a controlling stake in Hella by automotive technology company Faurecia on January 31, 2022. Currently Hella Lithuania employs 293 employees.
Eurofound (2022), Hella Lithuania, Business expansion in Lithuania, factsheet number 107213, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/107213.
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