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.
US baggage maker Samsonite is to expand production and hire 150 new staff at its Hungarian plant in Szekszárd (central Hungary). The new facility is expected to be operational in December 2011.
Production in Hungary started in 2008, since then Samsonite's production and sales revenue grew substantially. In December 2010 Samsonite announced to hire 40-50 employees, now the company is expected to expand this number to 150 new employees with this new investment.
Samsonite Hungária, the local subsidiary, will spend HUF 500-550 million on a new 4,000-sqm manufacturing and assembly plant and another HUF 700 million on machinery. The company obtained extra funding from the Economic Development Operational Program.
The plant currently wheels out 2,400 bags a day, which will increase to about 2,700-2,800 from next year. Samsonite Hungária expects to double its 2009 revenues of HUF 4.8 billion to nearly HUF 10 billion by 2011.
Eurofound (2011), Samsonite, Business expansion in Hungary, factsheet number 72183, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72183.