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.
As announced on 14 December 2023, N3 Engine Overhaul Services, which is a joint venture between Lufthansa Technik and Rolls-Royce, will be creating approximately 280 jobs at its site in Arnstadt within the next two years.
N3 overhauls and repairs aircraft engines. Lufthansa Technik and Rolls Royce will be investing approximately €150 million. The investment will be used to build new factory areas, expand current facilities and acquire new machinery. N3 expects that it will be able to increase its capacity from 160 engines per year to 250 engines per year.
The company intends to fill the additional positions through in-house training, qualifications and new hires. Management is currently emphasising the importance of a more simplified recognition of foreign educational qualifications to federal and state policy makers in order to find skilled workers abroad.
Eurofound (2023), N3 Engine Overhaul Services, Business expansion in Germany, factsheet number 200648, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200648.