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 Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
1,000 jobs Number of planned job creations
Announcement Date
2 December 2010
Employment effect (start)
1 November 2010
Foreseen end date
1 December 2012
Description
On 2 December 2010 Epcos Kft has announced enlargement of its site at Szombathely which will result in creation of 1000 new jobs. In 2008 Epcos won the Innovation Award of the Hungarian Chamber of Commerce with two innovations in electrical equipments. Based on these new products in the frames of TDK-EPC Group's long-term strategy an investment of 2.5 to 3 million Euros have been made recently. In the last months the company increased the number of employees with 600 people and plans to employ further 400 in the coming two years.
In 2008, the passive electronic components manufacturer was hit by the economic crisis and its orders have dropped to 35 percent, which resulted in redundancies. Since then the company has opened to new market segments -automotive hybrid technology and renewable energy use, and have had innovative ideas which provided the basis for growth. The company's turnover in 2008 was 30 billion HUF (107 million Euro), in 2009 was around 40 billion HUF (143 million Euro), in 2010 can reach up to 60 billion HUF (215 million Euro). The state and the local municipal support the investments which will improve the local employment and local transport system.
Sources
2 December 2010: Vasnépe
2 December 2010: Napi Gazdaság
2 December 2010: Metropol
Citation
Eurofound (2010), Epcos, Business expansion in Hungary, factsheet number 71283, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71283.
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