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.
On 14 September 2006, Austria’s Payer Group started works on a HUF 500 million (€1.8 million) beauty products factory in Ajka, Northwest Hungary. The plant is scheduled to be completed by July 2007, and production could start by the following month, giving work to 100 new employees. Payer’s local unit, Payer Industries Hungary, was established in 1992. It manufactures barbers’ scissors, men’s and women’s razors and epilators.
In the future, in Ajka some 100,000 cutting devices are expected to be manufactured every month for the European personal care market, among them hair clippers for Philips and men’s razors for Boots. Tools for removing drilling dust are among the products manufactured for the European industrial solutions field. Almost all of the unit’s products are exported, to companies such as Philips, Remington, Seiko and Calor. This spring, the company invested HUF 140 million to set up a painting plant in Ajka.
Eurofound (2006), Payer Industries Hungary, Business expansion in Hungary, factsheet number 64655, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64655.