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 For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29 - Manufacture of motor vehicles, trailers and semi-trailers
600 jobs Number of planned job creations
Announcement Date
15 June 2012
Employment effect (start)
Foreseen end date
31 December 2012
Description
Iveco, the truck maker owned by Fiat Industrial, is to create 1,200 jobs at its plants in Madrid and Valladolid (Spain) by the end of 2016. More than 600 jobs will be created before the end of 2012.
Sergio Marchionne, President of Fiat Industrial, has told Spain's Prime Minister, Mariano Rajoy, that this industrial plan will require an investment of EUR 500mn.
The plan will allow Iveco to double its production levels in Spain, where it will concentrate its European manufacturing of heavy vehicles. The plan also includes the setting up of a new R&D centre in Madrid. Funding will be spent on staff training as well. Some 80% of the firm's production will go to export, which will improve the country's balance of payments.
Sources
15 June 2012: Expansión
Citation
Eurofound (2012), Iveco, Business expansion in Spain, factsheet number 73737, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73737.
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