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 Of Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Rubber And Plastic Products 22.11 - Manufacture of rubber tyres and tubes; retreading and rebuilding of rubber tyres
520 jobs Number of planned job creations
Announcement Date
24 October 2004
Employment effect (start)
1 January 2006
Foreseen end date
30 June 2006
Description
Michelin, the main shareholder of Stomil Olsztyn (producer of tyres), will invest in the Warmińsko-Mazurska Special Economic Zone. New investment of €239 million will include the expansion of the existing production facilities, building new production facilities and a new logistic centre. The Polish government announced that Stomil will benefit from a public help of €32.8 million. As of August 2006 Michelin has hired 400 of the planned 520 people.
Sources
1 August 2006: Puls Biznesu
10 April 2006: Rzeczpospolita
13 February 2005: Rzeczpospolita
5 January 2005: Gazeta Wyborcza
Citation
Eurofound (2004), Stomil Olsztyn, Business expansion in Poland, factsheet number 60985, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60985.
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