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.
Ford is the fourth famous motor-car producer which decided for direct investment in Slovakia. The German/US Company will invest about Euro 350 million in 2005-2006. The production of about 300,000 gearboxes per year is planned in this Greenfield investment. The production unit is located in the industrial zone of Kechnec in the nearby city of Košice where US Steel operates. The investment is assumed to generate additionally 1000 to 1500 new jobs with subcontractors.
The Slovakian government decided to provide Euro 54.5 million state aid for the company of which 13.5 million would concern reduced corporate tax. Also, the government intends to provide additional Euro 1 million to support training of employees.
According to a new information, full production in the new plant started on 22 November 2007, and in total 450 new jobs were created there.
Eurofound (2004), Getrag Ford Transmissions, Business expansion in Slovakia, factsheet number 60819, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60819.