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.
Andrada Group, a Slovenia-based firm, will establish an accumulator recycling factory in Sóskút, Central Hungary. Over two years, the production site will create 160 new jobs, according to the management.
The plant will start operating in February 2024 at a limited scale, recycling only non-toxic scrap metal. In the second phase of the development, the site will expand its operation to recycling whole accumulators. The investment cost is about €60 million. The government provides a grant of €17 million.
Originally, the management chose Alsózsolca (Northern Hungary) as a location for the factory. However, due to vocal protests on the part of the local population, primarily caused by concerns regarding the impact of the investment on the local drinking water supply, the company decided to relocate to Sóskút.
Eurofound (2024), Andrada Group, Business expansion in Hungary, factsheet number 200704, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/200704.