TMG Automotive

Type
Business expansion
Country
Portugal
Region
Continente; Norte; Cávado
Location of affected unit(s)
Braga
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
29.3 - Manufacture of motor vehicle parts and accessories
29.32 - Manufacture of other parts and accessories for motor vehicles
160 jobs
Number of planned job creations
Job creation
Announcement Date
17 December 2018
Employment effect (start)
1 January 2019
Foreseen end date

Description

Portuguese company TMG Automotive has announced plans to create 160 new jobs in Braga by 2020. The investment was made possible due to a loan of €25 million from the European Investment Bank (EIB). The loan was granted to the company in order to promote innovative and sustainable processes and raise its production capacity. TMG will use the funding to improve its industrial facilities and focus on the use of new technologies, which will reduce fuel consumption and pollutant emissions of cars.

Citation

Eurofound (2018), TMG Automotive, Business expansion in Portugal, factsheet number 96300, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96300.