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.
USA-based Emerson Electric group, a world leader in the electrical engine industry, has announced it will begin the construction of five new factories in Cluj (Cluj county, Nord/Vest region) that will make small electrical engines, as well as a research centre, with a total investment set to exceed €125 million.
The announcement was made after the county councillors approved the framework contract.
Company’s officials added that over the next few years at least 200 engineers from Cluj would be hired for design and production in the field of research and development. ‘We had watched the Romanian market for a while and eventually chose Cluj because of the technical university. We intend to hire engineers both experienced and not, once construction is finalised’ the company stated. The construction will begin in January 2006 and Emerson’s manager for the Central and Eastern Europe estimated that all the facilities will be finalised in the next five years.
Emerson intends to build the first factory in 2006, following an initial investment of €25-30 million. By the end of the investment programme, the five factories will employ about 2,000 people, mostly high qualified.
Eurofound (2005), Emerson Electric, Business expansion in Romania, factsheet number 62677, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62677.