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 - Manufacture of rubber and plastic products
700 jobs Number of planned job creations
Announcement Date
11 November 2005
Employment effect (start)
15 November 2005
Foreseen end date
31 December 2011
Description
Spanish company Cikautxo is to establish its first subsidiary in Slovakia. Cikautxo took over the premises of closed Czech Sigma Company subsidiary in the Nové Zámky industrial zone. Company management plans to invest around €25 million in the reconstruction of the buildings and in a new technology. Plastic pressed parts and tubes for automotive industry and white domestic appliances will be produced there. According to Director General Jose Ricardo, company experts have visited four countries neighbouring to Slovakia to look for a suitable area for the new investment. The industrial zone in Nové Zámky was picked up because of its strategic geographical location as well as the availability of qualified workforce.
Sources
11 November 2005: Hospodárske noviny
Citation
Eurofound (2005), Cikautxo SK, Business expansion in Slovakia, factsheet number 62557, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62557.
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