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 27.51 - Manufacture of electric domestic appliances
1,400 jobs Number of planned job creations
Announcement Date
20 December 2018
Employment effect (start)
1 January 2019
Foreseen end date
31 December 2019
Description
Manufacturer of electric domestic appliances Arctic has announced plans to create at least 1,400 new jobs in 2019 as a result of a business expansion at Ulmi (Dambovita County). The construction of the new facility started in 2017 and it will end by June 2019. The plant is expected to produce about 2.2 million washing machines annually. The company received a loan amounting to €68 million from the European Investment Bank (EIB) and 330,000 euro from the Romanian state aid scheme for foreign investments. The total cost of the investment is about €100 million.
Sources
Citation
Eurofound (2018), Arctic, Business expansion in Romania, factsheet number 96306, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/96306.
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