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.
Basque aeronautical firm Industria de Turbo Propulsores (ITP) is to build a new factory in Zamudio (Biscay), with the aim of doubling production of low pressure aeroplane engines; the move will create 100 new jobs. Sources close to the company say that the bulk of the investment will go into buildings, machinery and tools. The new factory, which will enable the creation of a net 100 jobs, will make use of all of ITP's buildable land in Zamudio. This new injection of production resources will strengthen the plant's position as ITP Group's lead site. Representatives of the aeronautical company said that the investment was "very significant" although they declined to put a figure on it.
Eurofound (2010), Industria de Turbo Propulsores, Business expansion in Spain, factsheet number 70583, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70583.