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 August 2007, Continental Romania announced the creation of 1,500 new jobs, of which 500 in 2007 and 1,000 by the end of 2008. The additional jobs were to be created in all six plants of the company in Romania: two in Timisoara (West region), two in Sibiu (Centre region), one in Arad (West region) and one in Carei (Satu-Mare County, North-West region). As of August 2007, the company employs 3,500 in Romania. The company announced on 29 June 2006 its intention to increase the output of the plant in Timisoara to 16 million tyres this year, as compared to 1.2 million in 2002 and 10.5 million in 2005. The increase in the production capacity was to be followed by the development of the research activities at Continental Automotive Products Sibiu, resulting in the creation of 300 by the end of 2007 and bringing up the number of engineers from 220 to at least 280. Also, as result of the increase in tyres demand and the expansion of production capacity, the group announced a partnership with Dietrich-Honold Logistik, in order to establish a logistic centre for distribution at Sacalaz, Timis County. The investment will involve EUR 20 million by the end of 2008 and will generate 250 new jobs.
Eurofound (2006), Continental Automotive Products, Business expansion in Romania, factsheet number 63406, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63406.