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.
Südösterreich; Steiermark; West- und Südsteiermark
Location of affected unit(s)
Lannach/Ilz
Sector
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
200 jobs Number of planned job creations
Announcement Date
21 January 2011
Employment effect (start)
1 April 2011
Foreseen end date
Description
Magna Powertrain, a subsidiary of Magna Holding, is to expand its production site in Lannach and will thereby hire 200 new employees. The international automotive supplier is to invest an additional EUR 30 million due to the receipt of four new bulk orders. While at the beginning of 2009, hundreds of employees had to work short-time due to the economic difficulties in the sector, the company ended 2010 with an increase in turnover and workforce. Magna Powertrain has 28 production sites, of which Lannach/Ilz is the biggest.
Sources
24 January 2011: Industriemagazin
21 January 2011: Der Standard
Citation
Eurofound (2011), Magna Powertrain, Business expansion in Austria, factsheet number 71499, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71499.
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