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.
AVL AUTÓKUT Engineering Ltd, the Hungarian subsidiary of Austrian-based automotive firm AVL, is in a state of ongoing expansion. Part of the expansion is the building of a new corporate centre in Érd, Central Hungary, which will include both and office centre and a new test base. The office buildings will be operative by the end of 2019, the testing benches will be installed in 2020.
But the number of employees will expand well before the completion of the Érd development project as well. At present, the firm hires new cohorts of employees every two weeks. From the 365 employees near the end of October 2018, the number of employees will increase to about 400 by the end of 2018, with a recruitment continuation in the next year. By the end of 2022, the firm intends, according to the most pessimistic scenario, to raise the number of employees to at least 700.
The firm is taking advantage of the global wave of growing need of the automotive sector for research and development capacities. Beside testing of passenger and commercial vehicle motors, AVL AUTÓKUT is involved in areas such as, the design of whole automotive plants and production processes, design of motors, management of whole development cycles.
Eurofound (2018), AVL AUTÓKUT Engineering, Business expansion in Hungary, factsheet number 95730, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/95730.
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