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.
Livan, a Chinese firm that produces environmentally friendly food packaging material, is to construct two new sites in Alsózsolca and Edelény and create 800 new jobs. The announcement was made by János Kóka, the Hungarian Minister of the Economy, after a visit to China. The two new sites will involve an investment of 18 million EUR and will manufacture packaging material from a vegetable-based starch that completely decomposes after use. It is planned by the firm that the products will be sold to local and European markets. Livan's investment is the first large Chinese greenfield investment in Hungary, and will also be based in an area where unemployment is high and employment opportunities are scarce. Both plants will begin production with an annual capacity of 50,000 tonnes, but Livan plans to increase the capacity of both plants to 100,000 tonnes per year in the future.
Eurofound (2007), Livan, Business expansion in Hungary, factsheet number 65790, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65790.