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.
Germany's automotive component production giant Continental is to create around 130 new jobs in Kaunas by September 2019. The company is building a new production facility in Kaunas Free Economic zone which will start operating in September 2019. The recruiting phase has already been started – currently the company employs 68 employees; the number of employees should reach 200-250 in September 2019. The company will be investing €95 million over the next five years and will create around 1,000 new jobs in Kaunas.
In the new facility, Continental will produce passenger safety and smart driver assistance systems, including door and seat control units, radar sensors, etc. According to the management, the new production plant in Lithuania is an important part of Continental’s growth strategy in Europe.
Eurofound (2019), Continental Automotive Lithuania, Business expansion in Lithuania, factsheet number 97478, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97478.