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.
German supplier of automotive industry, SAM Automotive, has decided to enter the Slovakian market. Approximately 800 new jobs will be created in a SAM Automotive Slovakia plant in Velky Krtis by the beginning of 2023. According to the COO of SAM Automotive group, aluminium components for car doors and roof baggage racks will be produced there. New investment will be materialised in three stages from 2018 to 2023. As of March 2018, production facilities are available for the first stage, and production will start in the second quarter of 2018 when about 150 new jobs will be created. In the second and third stages additional production halls will be built. According to the major of Velky Krtis, it is one of the largest investments in the region which has an unemplyoment rate of 9%. Besides the jobs for production workers almost 200 jobs will be created for technical and administrative staff. SAM Automotive supplies components to renowned car producers Audi, Mercedes- Benz, Daimler, Volkswagen, Volvo and Bentley. Main customers of SAM Automotive Slovakia will be Volkswagen Slovakia and Audi and Mercedes-Benz in Hungary.
Updated, 1/10/18 Due to financial difficulties of the parent company, the production in the plant has been put on hold. Because the parent company in Germany is in restructuring it decided to stop hiring employees in its new plant in Slovakia.
Eurofound (2018), SAM Automotive, Business expansion in Slovakia, factsheet number 93525, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/93525.
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