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.
Siemens Automotive, part of the German Group Siemens, is expanding its activities in Romania, with a new research and development centre to be opened in Iaşi (Nord-Est region, Iaşi county). Local authorities say the company plans include investments of over €20 million until 2009, as well as hiring 500 hi-tech experts.
‘The company plans to start producing automotive software in a few years' time', said the chairman of the county council in Iaşi.
Siemens rented 2,000 square metres in the Tehnopolis technological park in Iaşi (the first technological park in Romania). ‘The company has already hired its first employees and is currently arranging the first space it was granted', the chief executive of Tehnopolis said.
The county council expects more foreign investors to come to invest in Iaşi, but did not provide any more details.
Eurofound (2006), Siemens Automotive, Business expansion in Romania, factsheet number 63000, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63000.
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