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.
Pankl Racing System, Austria-based company, will delocalise a part of the production from its companies operating in Austria. The whole production of piston-rods for the high performance engines will be delocalised to Továrniky nearby Topolčany. The greenfield investment will amount to SKK 178 million and a new production plant will spread up to 6,600 square metres there. Around 100 new jobs will be created in the new plant where EUR 4 million annual turnover is presumed.
According to information as of September 2007, 140 employees were employed at the Pankl Automotive Slovakia plant in Tovarniky at the end of September 2007.
Pankl decided to increase its investment in Slovakia to SKK 560 million. It also extended the range of products, which will include components for the airline industry. In total 200 new jobs have been created in the new production plant, which was officially opened on 30 June 2008. Further business expansion is anticipated there.
Eurofound (2006), Pankl Racing System, Business expansion in Slovakia, factsheet number 64547, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64547.
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