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 Manufacturing Of Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.3 - Manufacture of agricultural and forestry machinery
250 jobs Number of planned job creations
Announcement Date
9 March 2012
Employment effect (start)
9 March 2012
Foreseen end date
Description
Manufacturer of agricultural machinery Linamar has opened a new machinery manufacturing unit and created 250 new jobs.
The investment of HUF 7 billion (EUR 23 million) was made possible through financial support of the European Union and the Hungarian government of around HUF 1.5 billion (EUR 5 million) as a part of the New Széchenyi Plan on job retention and job creation. Accordingly, Hungarian Prime Minister Viktor Orbán handed over the new manufacturing unit and communal building while emphasizing the importance of such investments in Hungary.
The Canadian Linamar Group has been operating in Hungary since 1992, increasing the number of its employees from 354 to 2,100, and its revenue from HUF 602 million (EUR 2 million) to HUF 37,3 billion (EUR 124 million) until 2011.
Sources
9 March 2012: Menedzser Fórum
9 March 2012: Tőzsde fórum
Citation
Eurofound (2012), Linamar, Business expansion in Hungary, factsheet number 73382, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73382.
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