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 Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
500 jobs Number of planned job creations
Announcement Date
28 October 2004
Employment effect (start)
1 December 2005
Foreseen end date
31 December 2008
Description
Continental Corporation decided to invest €60 million between 2004 and 2008 in Slovakia. A new production unit, Teves, will manufacture elements of car breaks for the expanding automotive industry in the region. Low local labour cost was the main decisive factor considered for the investment.
In February 2006, the Slovak Government decided to support the project by providing a state aid amounting to SKK 413.5 million.
Sources
2 February 2006: Hospodárske noviny
26 October 2004: SME
Citation
Eurofound (2004), Teves, Business expansion in Slovakia, factsheet number 60761, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60761.
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