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 Swiss-based pharmaceutical enterprise Novartis will invest €100 million in a new production site in Tyrol, Austria, creating 190 new jobs. According to the company, a high global demand for pharmaceutical products requires the expansion of the Schaftenau site in Tyrol, which will include a cell culture production site as well as office buildings. The Schaftenau site produces bio-pharmaceuticals (biologicals) for Novartis and biosimilars for Novartis subsidiary Sandoz for the global market. Biologicals are considered the future in medical treatment.
As of 2017, Novartis employs 5,100 people in Austria.
Eurofound (2017), Novartis, Business expansion in Austria, factsheet number 92443, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/92443.
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