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
1,800 jobs Number of planned job creations
Announcement Date
24 May 2005
Employment effect (start)
Foreseen end date
31 December 2015
Description
Mexican company Nemak, a global high-tech aluminium automotive component producer, one of the largest foreign investor operating in the Czech Republic since 2003 through its Czech subsidiary in Joseph, industrial zone of the city Most, has decided to expand its production capacity of aluminium cylinder head and block castings to 1,6 million a year and to employ more than 500 people by 2010. The company has already invested more than 2 billion CZK and plans a further investment of 7 billion CZK which is expected to create another employment opportunities for about 1,300 workers by 2015. However, the issue of building licence allowing the tenfold factory expansion is now being threatened because of discrepancies in documents enabled the company to set up a new plant on the grass field.
Sources
24 May 2005: Hospodárske noviny
Citation
Eurofound (2005), Nemak Czech Republic, Business expansion in Czechia, factsheet number 61624, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61624.
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