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.
The Croatian electrical, transport and energy company Končar and the German company Siemens Energy officially opened their newest manufacturing facility in Sesvetski Kraljevec on 23 January 2023, which produces transformer tanks and employe 400 workers. This is a Joint Venture company majority-owned by Končar (60%) and Siemens Energy (40%), represents the latest milestone in a partnership between two leading European manufacturers in the power equipment market.
The facility is a direct response to the growing global demand for transformers, for which transformer tanks are a key component. The partnership enables capacity expansion, the exchange knowledge and expertise, risk-sharing, and a more competitive position on the global market. In addition to increasing operational resilience and efficiency, creating 400 new jobs, and opening opportunities for professional development and innovation, the establishment of the new factory represents a significant step forward in reinforcing domestic industry and positioning Croatia on the map of global energy transition.
KONČAR employes about 5,500 people and operating across many international markets, and the text also references ongoing strategic capacity investments in the long-standing KONČAR–Siemens Energy transformer venture (KPT), including plans to double capacity by 2031.
Eurofound (2026), Koncar , Business expansion in Croatia, factsheet number 204045, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/204045.
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