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.
PPS Holding in Detva produces machinery components of different sort for vehicles. Following its bankruptcy in 2002, the company was taken over by a new owner and transformed into PPS Group in 2003. The company has soon recovered and expanded its production since then. Almost 93% of its production is exported to foreign companies. Main customers are Atlas Copco, Volvo, Komatsu-Hanomag, Caterpillar, Schmidt-Crushtek and Montabert. In 2005, PPS Group management expected SKK 1.1 billion revenue from sales, which would have been SKK 400 million more than in the previous year.
In June 2006 the number of employees in Detva plant crossed 1,000 and the employment reached the level before the mass redundancies in 2002. PPS Group had SKK 514 million revenue from sales from January to May 2006. The management intends to employ almost 500 new employees in Detva till the end of 2010.
Eurofound (2005), PPS Group, Business expansion in Slovakia, factsheet number 61947, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61947.