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 Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
500 jobs Number of planned job creations
Announcement Date
10 October 2006
Employment effect (start)
10 October 2006
Foreseen end date
31 December 2008
Description
The German company Marquardt Schaltsysteme, a manufacturer of electro-mechanical and electric systems for switches for the automotive industry announced that its new plant located in Sibiu will be fully operational in 2008. Officials expect that the Sibiu branch, involving a total investment of about EUR 23 million, will generate turnover of some EUR 100 million in 2008.
„Starting next year we will introduce new products directly at Sibiu. Our main market is Germany, but in the future we intend to find new customers on the Eastern European markets,” stated Bernd Friedrich, the chief executive of the company.
By the end of 2007 some 200 people will be hired and in 2008 the number of employees will be increased to 500.
In 2005, the worldwide turnover of the company was approximately EUR 369 million, and the number of the employees 3,200, of which 2,000 in Germany.
Sources
11 October 2006: Ziarul Financiar
Citation
Eurofound (2006), Marquardt Schaltsysteme, Business expansion in Romania, factsheet number 64239, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64239.
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