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 French group Renault will invest €215 million to build a gearbox factory in Piteşti (Sud region, Arges county). By 2008, the factory will make 2,000 gearbox units per day.
The gearboxes will be installed in every brand of the Renault-Nissan group, namely Nissan, Renault, and Samsung, all ofwhich will be exported to France, Japan, Mexico, Turkey, the United Kingdom and South Korea.
Renault representatives said they expected the factory in Piteşti to generate sales of €128 million in 2008.
The facility will operate in a 3,500 square metres building, being the second such facility built by Renault, after a factory in Seville, which started manufacturing in April 2005.
The factory will create 650 jobs and get a state aid of some 17% of the total investment. The aid covers four main areas: regional development, environmental protection, employee training and research and development.
Taking into account the car factory Dacia acquired earlier in Pitesti, Renault's total revenues in Romania will reach €1 billion in 2005 and €2 billion by 2008.
Eurofound (2005), Renault, Business expansion in Romania, factsheet number 61959, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/61959.
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