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
130 jobs Number of planned job creations
Announcement Date
10 June 2008
Employment effect (start)
Foreseen end date
31 December 2009
Description
Knorr-Bremse AG, a German manufacturer of brake systems, has announced the creation of 130 new jobs with the development of a new production facility in Budapest. Out of the 130 new jobs, 30 jobs will be for qualified workers. This business expansion will affect two main units in Hungary: one unit located in Kecskemét (central Hungary) which produces pneumatic and electro-pneumatic systems and the other located in Budapest where electronic systems are designed and tested. The total investment amounts to HUF 10 billion (approximately €43,7million), including € 1 million in investment subsidies from the state to expand the production of brakes for rail vehicles. Also a new experimental laboratory will be built and R&D-related activities will be developed further. Knorr-Bremse announced in December 2007 to invest more than HUF 3 billion into the expansion of R&D activities in Hungary by the end of 2009, making the Hungarian units the largest R&D unit for the company. Knorr-Bremse currently employs 600 workers of whom 200 are engineers.
Sources
13 June 2008: bbj.hu
10 June 2008: Népszabadság
Citation
Eurofound (2008), Knorr-Bremse Vasúti Jármű Rendszerek Hungária Kft., Business expansion in Hungary, factsheet number 66851, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66851.
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