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 announced it will invest between €70 and €100 million in new projects creating up to 700 jobs by the end of 2020. The company previously report expansion in 2016, after recovering from a cyber attack in 2015. The company was able to increase its turnover in 2016 and has hired 331 new employees over the last year. FACC reports a growth in demand from Airbus, Boeing and Embraer Business Jets. The business expansion is boosted by a new contract with the aircraft manufacturer Bombardier worth €100 million for the manufacturing of the wing-fuselage-cladding of the 'C-Series', requiring 50 new employees at the production site in St. Martin (Ried im Innkreis).
20-07-2018 Update:
FACC has has been awarded a contract from Airbus to manufacture the entrance area for the A320 fleet worth €230 million. To cover the growing demand FACC is implementing new technology and building a new production line, which is set to create 100 new jobs this year. These jobs are part of the overall 700 jobs that will be created by the end of 2020.
Eurofound (2017), FACC, Business expansion in Austria, factsheet number 91357, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/91357.
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