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 29.1 - Manufacture of motor vehicles
194 jobs Number of planned job creations
Announcement Date
12 November 2018
Employment effect (start)
12 November 2018
Foreseen end date
Description
Kauno autotechnika, Lithuanian company engaged in the production of internal combustion piston engines, is to create 200 new jobs in Kaunas. The main cause of job creation is the takeover of the company by US investor Sata LCCÂ in July 2018. According to the management, although Kauno autotechnika's specialists have developed a unique technology for the production of internal combustion engine pistons, before the takeover they have not been able to expand their production and reach car manufacturers due to lack of technical and financial resources. Currently the company employs 6 employees, and after the takeover the number of employees will grow to 200. Sata LCC is a company set up in the US by migrants from Lithuania.
Sources
Citation
Eurofound (2018), Kauno autotechnika, Business expansion in Lithuania, factsheet number 95800, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/95800.
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