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.
Construction Construction Of Buildings And Infrastructure Engineering Construction Of Buildings 41.1 - Development of building projects
250 jobs Number of planned job creations
Announcement Date
11 February 2014
Employment effect (start)
11 February 2014
Foreseen end date
1 September 2014
Description
Swiss real estate company Swiss Property will open its composite construction factory in Rae industrial park near the capital city Tallinn, which will create 250 new jobs. The new expansion will focus on producing tailor made detached houses that will be produced in Estonia and then exported to Switzerland.
According to the company manager, the decision was motivated by the significantly lower costs for qualified labour force. The company is also planning to set up a small ship yard in Loksa to produce interior for luxury yachts after the factory facility is completed.
Sources
11 February 2014: Delfi
Citation
Eurofound (2014), Swiss Property Eesti, Business expansion in Estonia, factsheet number 76627, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76627.
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