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 Estonian metal manufacturing company Hanza Mechanics has opened a new assembly plant in Narva, creating 40 new jobs.
The expansion includes 5000 extra square meters of production area and requires up to 40 new employees. The need for the expansion comes from an increase in demand. Thanks to the new department, the company can start providing the complete production solution to their customers in one place which was not possible previously.
Hanza Mechanics is specialised in complete and partial solutions in heavy mechanics. Their customers come from the mining, energy, material handling and mechanical engineering sectors. The company also offers assembly services, which include the final assembly and testing of systems. Prior to the latest expansion, there were 263 employees in the company in Narva.
Eurofound (2023), Hanza Mechanics Narva, Business expansion in Estonia, factsheet number 200573, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/200573.
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