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.
The American group Modern Engineering, a world specialist in the engineering of the industrial design and vehicles, announced on 11 September 2006 the creation of a new factory in Europe. Modern Engineering (1,200 employees in the whole group) intervenes in the design of components for the industrial vehicles and any type of 'travelling machine'. The CEO decided to create a factory in the east of France in Saint Jean Bonnefonds, Loire. In October 2006, this factory will be the only one of the group in Western Europe. In a first phase, between October 2006 and October 2009, Modern Engineering Métrotech will recruit 150 people. The company will receive 14,000 euro per new employee by the State and local autorities. Modern Engineering intends to recruit employees through research and training partnerships with engineering schools, like the School of the Mines of Saint-Etienne. Modern Engineering has eight factories in the US and in the last three years it has opened up establishments in China, India, Romania and Israel.
Eurofound (2006), Modern Engineering Métrotech, Business expansion in France, factsheet number 64050, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64050.