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.
Eltec, a Slovak domestic producer of electrical switchgear and control panels, has announced that it is to create 100 jobs by relocating its activities to the industrial park Moravany nad Váhom. Eltec has been operating nearby Piešťany since the beginning of 90s. According to the Eltec CEO, Jozef Škodný, the company management decided to develop the new plant in Moravany nad Váhom because of the easy access to the main motorway and low price of land in the area. Eltec will leave its premises in Piešťany, where currently 80 workers are employed. The new production and logistic unit in Moravany is expected to be operational in 2009. In total about 100 new jobs will be created there. As of March 2008, there is no information on when the new jobs will be implemented by. In order to attract its subcontractors to be located closer to the new production plant, Eltec management intends to build also the infrastructure in the whole industrial park. Another 120 new jobs are expected to be created by subcontractors.
Eurofound (2008), Eltec, Relocation in Slovakia, factsheet number 66494, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66494.