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
200 jobs Number of planned job creations
Announcement Date
7 November 2005
Employment effect (start)
1 January 2007
Foreseen end date
Description
Indian company Steel Strips Wheels will establish its first European subsidiary in Slovakia. New production plant will be established in an area where the South Korean Hankook Tires Company previously intended to operate (Hankook finally decided to invest in Hungary). According to Euro Wheels Slovakia CEO, the proper location of the Levice site in Central Europe was the most important factor for the company management decision to invest here. The amount of investment stimulus offered by the Slovak Government for the project was not the highest priority. Location of the production plant in Levice area will enable the subsidiary to produce wheels effectively for several big car producers operating in the nearby region. Kia Motors and PSA Peugeot - Citroën are considered as the main potential customers.
Sources
7 November 2005: Hospodárske noviny
Citation
Eurofound (2005), Euro Wheels Slovakia, Business expansion in Slovakia, factsheet number 62521, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62521.
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