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 Kronospan company plans to extend its production in Slovakia, by investing some SKK 3.9 billion in the establishment of a new production plant. According to the company's director for central Europe, Marcus Haberger, management has asked the Slovak government for an investment stimulus. The latter used to be provided for investments in regions with a particular high unemployment rate, which is the case for the Prešov region.
According to a new information, Slovak Government did not provide the company a state aid in amount required by the company. Therefore, Kronospan management decided to reduce the planned investment. It plans to modernise the technology in its subsidiary in Prešov. However, creation of only 150 new jobs (instead of 190) is planned there.
Eurofound (2005), Kronospan, Business expansion in Slovakia, factsheet number 62315, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/62315.