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.
LG Chem has announced that it will create 3,000 jobs at its new factory in Biskupice Podgórne (Tarnobrzeg Special Economic Zone, Poland). The plant, which will produce over 100,000 batteries for electric cars each year, it is expected to be operational by the second half of 2017. The company plans to invest about PLN 1.2 billion (EUR 286.39 million USD 322.58 million) in the project; it will be Europe’s first mass production facility for lithium-ion car batteries.
Recently, the company has also signed a cooperation agreement with Wrocław University of Science and Technology.
LG Chem is one of the world’s largest manufacturers of lithium-ion batteries. The company is a part of LG group.
Eurofound (2017), LG Chem, Business expansion in Poland, factsheet number 91101, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91101.