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 Austrian aircraft supplier FACC is to hire additional 180 employees by the end of the current fiscal year (i.e. end of February 2012). The Chinese owned company Fischer Advanced Composite Components (FACC), which was bought by Xi'an Aircraft Industry in late 2009, is to invest EUR 35 million in its sites in the Upper Austrian region Innviertel, including building a new site as the existing ones have reached their capacity limits.
Development and construction are to be bundled and expanded at the new site. With the company's announcement, rumours about the partial relocation of the company to China have been dispersed. Some 450 engineers are to be employed at the new site (no timeline available). The technical director of the company, Mr Pleli, states that by 2014 the company's turnover will have doubled based on the supply volumes that have already been agreed upon.
Eurofound (2011), FACC, Business expansion in Austria, factsheet number 71898, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/71898.
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