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 For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
3,000 jobs Number of planned job creations
Announcement Date
17 July 2007
Employment effect (start)
1 January 2007
Foreseen end date
31 December 2011
Description
On 17 July 2007, the automotive supplier ZF Friedrichshafen AG (ZF) announced that it is to create 1200 jobs in Germany by the end of 2007. Mr Härter, Chairman of the firm's board, stated that the restructuring measures of the past had allowed for greater flexibility within the firm, which in turn had paved the way for the creation of new jobs. The job creation in Germany is part of a European wide expansion strategy. In 2007, ZF announced that it will create a further 1800 jobs, mainly in Eastern European countries, until the end of 2011. In 2007, the firm began production at a site in Slovakia at which 1100 will eventually be employed. ZF also acquired the engineering company Value Engineering Services in Czech Republic. 60 are currently employed at this site, but ZF has stated that it intends to expand employment at the site to 150. ZF also plans to increase employment at its production sites in Russia.
Sources
17 July 2007: Frankfurter Allgemeine Zeitung
17 July 2007: Handelsblatt
Citation
Eurofound (2007), ZF Friedrichshafen AG, Business expansion in World, factsheet number 65635, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65635.
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