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.
British auto parts supplier GKN Automotive has officially opened its new production unit in Felsőzolca, northern Hungary creating 1500 new jobs.
By the end of 2023, the plant is expected to employ 200 workers. By the end of 2026, the personnel will grow to 1500. The management of GKN Automotive has already hiring.
The production site will supply automotive parts to the BMW, Mercedes-Benz, Suzuki and Volkswagen units located in the region. The plant will mainly produce half-shafts for both electric and fossil fuel-based vehicles.
The investment cost was €143 million. GKN Automotive operates 51 production facilities and 6 technological hubs worldwide, making it a major provider of automotive parts.
Eurofound (2023), GKN Automotive Hungary, Business expansion in Hungary, factsheet number 200276, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/200276.
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