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 Chemicals And Pharamceuticals Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations 21 - Manufacture of basic pharmaceutical products and pharmaceutical preparations
415 jobs Number of planned job creations
Announcement Date
17 March 2008
Employment effect (start)
Foreseen end date
31 December 2011
Description
Teva Magyarország, the Hungarian subsidiary of Israeli-based Teva Pharmaceutical Industries Ltd., has announced that it is to create 415 new jobs by building a new manufacturing and packaging facility within the existing site at Debrecen currently employing 2000. The new factory is expected to be operational in 2011. The Minister of Economy, Csaba Kákosy, announced that the Hungarian government will provide a HUF 2 billion subsidy for the investment. The mayor of Debrecen, Lajos Kósa, stated that the local council decided to allow Teva to deduct some of the costs of the investment from its tax base for the Local Business Tax. As of March 2008, there is no information on when employment at the new plant will commence.
Sources
17 March 2008: mfor.hu
Citation
Eurofound (2008), Teva Pharmaceutical Works, Business expansion in Hungary, factsheet number 66405, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66405.
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