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.
German multinational Thyssenkrupp has announced the expansion of its production site in Jászfényszaru, in the Northern Great Plain region. Due to the expansion and the new production capabilities which have been installed, 110 new jobs will be created.
The newly installed production capacities will be put to use in the third quarter of 2024. The whole expansion will be completed in 2026. The firm has already started recruiting.
Thyssenkrupp has two plants in Jászfényszaru, one of which produces motor components for auto industry Original Equipment Manufacturers (OEMs). The investment will expand the product portfolio of this factory, with the addition of a new product line – rotating shafts for electric vehicles. The investment cost is €58 million, one-fifth of which is covered by a government subsidy.
Eurofound (2023), ThyssenKrupp Component Technology, Business expansion in Hungary, factsheet number 200429, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200429.