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 Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.45 - Other non-ferrous metal production
100 jobs Number of planned job creations
Announcement Date
30 March 2006
Employment effect (start)
Foreseen end date
Description
The largest magnesium foundry in Europe is now under construction in Kędzierzyn Koźle. Financing is provided by US based Tar Heel Capital, operating through a Polish company - Euromag. As of early March, two casting machines are already in operation; following activation of the remaining ones, the facility will be the largest of its sort in this part of the world. The plant will employ approximately 100 people. Most of the output will be taken up by the automobile, electronics, construction, and furniture industries (the latter requires magnesium for decorative windows and furniture fittings), and also by producers of power tools. Magnesium is also valued by producers of cellular phones and laptops on account of its effectiveness as a shield against electromagnetic radiation. Initially, 60% of the Kędzierzyn Koźle plant's magnesium output will be destined for the automobile industry; by 2008, this proportion will increase to 80%.
Sources
30 March 2006: Rzeczpospolita
Citation
Eurofound (2006), Euromag, Business expansion in Poland, factsheet number 63262, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63262.
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