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.
On the 12 November 2010, The Tyrolean manufacturer of abrasive products Tyrolit announced that it has created some 100 new jobs since the beginning of 2010 and now employs 1,100 workers.
The company, which belongs to the Swarovski group, located in the Tyrolean town of Schwaz, expects an increase in turnover of 25% for 2010, nearly reaching the EUR 500 million margin. From May to November 2009, the comany's workers were working part-time due to a decrease in orders. The company employs over 4,400 workers at 28 different production plants in 13 countries worldwide. According to their own declaration, the company is one of the biggest manufacturers of bonded abrasive, mechanical cutting, drilling and dressing tools, as well as special machines for the construction industry.
Eurofound (2010), Tyrolit, Business expansion in Austria, factsheet number 71209, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71209.