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.
Connaught the car company that will base its new headquarters in Wales has announced a 12 million GBP investment in Llanelli to produce its new "greener" sports car, that will create 200 skilled jobs. Connaught has already developed and launched two prototype vehicles. The company plans to start producing up to 2,000 of the Type D Connaughts a year for the European market, from November 2007. The firm claims a first for its lower carbon sports technology The lightweight four-seater coupe will cost 65,000 GBP. These will now be hand built at its global manufacturing and research and development headquarters to be based at Llanelli Gate. Connaught chose the area because it already has links with local suppliers, including Calsonic. 'When you look around at the skill set in the area, that was one of the key factors,' said chief executive Tony Martindale. Its plan is to build 100 cars in the first year, 250 in the second year, rising to 1,000 in year five for the UK and European markets. The company will initially recruit 30 engineers and scale up as production takes off. Recruitment will range from skilled manufacturing jobs to PhD students for research.
Eurofound (2007), Connaught, Business expansion in United Kingdom, factsheet number 65191, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65191.