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.
Alfod es Eszak; Eszak-Magyarorszag; Borsod-Abauj-Zemplen
Location of affected unit(s)
Szerencs
Sector
Manufacturing Manufacture Of Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Other Non-Metallic Mineral Products 23.14 - Manufacture Of Glass Fibres
100 jobs Number of planned job creations
Announcement Date
31 October 2024
Employment effect (start)
31 October 2024
Foreseen end date
30 June 2025
Description
Hungarian-Polish manufacturing firm PIMCO is building a new glass wool production facility in Szerencs, Northern Hungary. The new plant will employ more than 100 workers, and the hiring process has already begun.
The production site will be able to produce 19,000 tons of thermal and acoustic insulation material annually. As a result, it will help eliminate shortages and supply bottlenecks in the Hungarian market, while also exporting some of its output to countries within the Central and Eastern European region. Test production will begin in January 2025, with full production expected to start toward the end of the first half of the same year.
The total investment cost is €47.5 million, almost 30% of which is covered by a government subsidy.
Eurofound (2024), PIMCO, Business expansion in Hungary, factsheet number 201950, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201950.
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