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.
In October 2004, management of German components manufacturer, Visteon, had decided in favour of a greenfield investment of about €40-50 million in Slovakia. The plant located near the city of Nitra will produce components for car cabins and air-condition systems as of spring 2006. With this investment, Visteon responded to the increased activities of car manufacturers PSA Citroën-Peugeot and Hyundai/Kia's in Slovakia. Visteon now decided to also establish a new storage unit for components in Dubnica nad Váhom. This means that the company will create a total of 508 jobs in Slovakia within the next four years. The Slovak Government supports the investment by providing state aid of SKK 423 million. Around SKK 388 million will be used as direct financial support and SKK 27 million will subsidise training of employees.
Eurofound (2004), Visteon Slovakia, Business expansion in Slovakia, factsheet number 60687, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/60687.