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 January 2006, German Dräxlmaier announced an investment in south Slovakia to establish a greenfield subsidiary there. Dräxlmaier group is one of the most important subcontractors of car producers Mercedes, BMW and Audi. The new production plant in value of around SKK 600 to 700 million would have produced components for car electrical systems, initially for Audi Company. The plant was about to employ 1200 in its initial stage and 2000 people in 2015. The Slovakian government decided to provide a financial support of SKK 230 million. However, in May 2006 Draexlmaier suddenly revoked the planned investment. Supposedly, it will invest in Romania instead. A reason for this withdrawal might be the higher wages in Slovakia.
Eurofound (2006), Dräxlmaier Slovakia, Offshoring/Delocalisation in Slovakia, factsheet number 62811, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62811.