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.
Manufacturing Manufacture of metals Manufacture of fabricated metal products, except machinery and equipment 25.11 - Manufacture of metal structures and parts of structures
80 jobs Number of planned job creations
Announcement Date
15 May 2025
Employment effect (start)
15 May 2025
Foreseen end date
31 December 2025
Description
Fortaco Estonia
A metalworking company Fortaco Estonia has expanded its production and opened up a new factory in Narva, Estonia, on the 15th of May.
The company already had a factory that employs over 400 people (371 according to the business registry) but due to an influx of new costumers, an additional factory, that cost over €16 million, had to be built.
Currently already 30 new people are working in the recently opened factory and by the end of the year the number is expected to grow to 80 workers.
A competitor company, HANZA Mechanics that is also located in Narva, had also expressed their interests in expanding their business and opening a new factory, as the global demand for metalworking is increasing. However, currently there are no concrete plans for this expansion.
Eurofound (2025), Fortaco Estonia OÜ, Business expansion in Estonia, factsheet number 202750, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/202750.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
