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.
The management of the Austrian Magna Steyr concern, a company specialised in automotive engineering and vehicle assembly headquartered in Graz, at a press conference held on 27 October 2004 announced plans to grow the company's production relationship with the Chrysler Group by forming a manufacturing agreement for two vehicle types for the European distribution. This is due to increasing demand for these vehicles from the markets. According to the governor of the Land Styria, Waltraud Klasnic, the Chrysler order to Magna Steyr for assembling the vehicles will entail a job creation programme of about 650 employees to be hired in June 2005 onwards.
Eurofound (2004), Magna Steyr, Business expansion in Austria, factsheet number 60729, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60729.