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 Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27.2 - Manufacture of batteries and accumulators
600 jobs Number of planned job creations
Announcement Date
30 August 2016
Employment effect (start)
30 August 2016
Foreseen end date
1 June 2018
Description
Samsung SDI, a South Korean electronics manufacturer has chosen Hungary, Göd as location for its latest plant producing batteries for electric cars. Previously, Samsung SDI manufactured plasma display panels (PDP) and mobile phone displays and cathode-ray tubes (CRT) for previous generation TVs at the site but because of declining demand the site closed in December 2014. The site has now been renovated and repurposed for a new product line in the fast-growing electric car market. Recruitment has already begun, 600 new jobs will be created and the plant will be fully operational in 2018 according to the company. Total investment amounts to 100 bn HUF (c. €320m).
Sources
29 August 2016: Napi.hu
30 August 2016: Hirado.hu
Citation
Eurofound (2016), Samsung SDI, Business expansion in Hungary, factsheet number 88406, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88406.
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