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.
Spanish company Cikautxo invested € 3 million in the establishment of a subsidiary, Cikautxo SK, which started regular production in late 2005. The company took over the premises of a closed-down subsidiary of the Czech company Sigma in Nové Zámky. The plant will produce pressed rubber parts and tubes for the automotive industry as well as white domestic appliances. According to the head of the company's logistics department, Richard Maglodi, currently the subsidiary employs 50 people but the mother company intends to invest a further € 2 million in the next two years. This will lead to an increase in the number employed to about 600 in the next three to five years. Currently, Cikautxo SK produces mostly components for white domestic appliances and the whole production is exported to other EU countries, mostly to the Czech Republic, Italy and Spain. However, from April 2006 the production of components for the automotive industry will increase.
Eurofound (2006), Cikautxo SK, Business expansion in Slovakia, factsheet number 63186, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63186.