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 Hungarian subsidiary of the Chinese auto parts supplier Zhejiang Huashuo Technology, Halms Hungary, is building a new plant in Debrecen which will start operating in March 2023 and the production site will employ 300 workers.
The investment cost is €43 million. The plant will be an aluminium high-pressure die-casting plant that produces various parts for electric vehicles, such as engine housings, gearboxes and inverter cases. The Chinese firm, a prominent provider of motor cases for electric vehicles, decided upon the establishment of the Debrecen plant to get closer to its European customers. This is the first production site of the firm outside China.
The first phase of the investment entails the establishment of a site for processing, washing, testing storing. The second phase, which is expected to start operating in December 2023, entails the installation of a furnace and high-pressure casting machinery. The plant will be a highly automated and fully digitally linked production facility.
Eurofound (2022), Halms, Business expansion in Hungary, factsheet number 107403, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/107403.
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