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 Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28 - Manufacture of machinery and equipment n.e.c.
150 jobs Number of planned job creations
Announcement Date
19 October 2004
Employment effect (start)
1 October 2006
Foreseen end date
31 December 2006
Description
The Austrian Miba decided to close its older production unit in Sheffield in 2006. In order to strengthen the company’s position in Central and Eastern Europe, the production of components for machinery and automotive industry will be located in Slovakia with a new investment of about €15 million.
Miba Friction Group actually invested around Eur 20 million in the subsidiary till May 2006. According to Miba Corporation Board president Peter Mitterbauer, the new production unit in Slovakia will reach its full capacity by the end of 2006 when 150 employees would work there. Company management assumes that the annual turnover in the Slovak subsidiary would amount around Eur 15-17 million in 2007.
Sources
19 October 2004: SME
19 October 2004: Hospodárske noviny
2 May 2006: SME
Citation
Eurofound (2004), Miba, Business expansion in Slovakia, factsheet number 60690, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60690.
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