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.
American company SSI Technologies, a producer of magnetic sensors for automotive industry, has opened a site where 250 people are to be employed at the first stage.
The Czech plant is the first one being built outside the United States. Investment into technology will tend to be over USD 24 million until 2018. The labour force availability and high unemployment rate in the region (9,5% in August 2016) have played an important role in selecting the location.
New jobs will be designed both for university graduates and people with lower education as graduates of vocational schools.
The company received a state investment incentive from CzechInvest. The foreign investor already plans to expand the production and create up to 450 people in the future.
Eurofound (2016), SSI Technologies, Business expansion in Czechia, factsheet number 88607, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88607.