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.
In July 2005, the Swedish company Autoliv, a manufacturer of safety systems for the automotive industry, announced a USD 50 million investment programme. The investment is scheduled for completion by 2007 and is intended to boost the company's production capacity in Romania.
Autoliv entered the Romanian market in 1997 and in July 2005 announced the completion of a €18 million investment expanding its production capacity at the Braşov safety belts factory (Centru region, Braşov county). Previously, the company imported seatbelt straps from the Netherlands, implying high transport costs. ‘The decision to go for vertical integration was supported by the positive impact this move will have on labour costs and transport spending', company officials said.
Two more plants were reported under construction at that moment: a plant manufacturing gas generator for the airbags systems and a factory producing textile materials for safety belts.
Also in July 2005, Autoliv annouced the intention to double the number of employees: from 500 at that time to 1,200 by the end of 2006.
So far, in July 2006, the company has opened a new plant manufacturing electronic components for safety systems at Timişoara and announced the intention to hire 100 people for the new unit, mainly software engineers.
For 2006 the estimated turnover is EUR 30 million, more than twice as much as the registred value in the previous year.
Eurofound (2006), Autoliv, Business expansion in Romania, factsheet number 62303, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62303.