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 Austria manufacturer of aircraft components and systems FACC plans to build an automated digitised production complex in the business zone Jakovlje, around 30 kilometres west of Zagreb. The company chose between different locations in Central and Eastern Europe and ultimately decided on Zagreb. The plant will produce parts for aircraft and engine manufacturers such as Airbus, Boeing, Bombardier and Rolls-Royce, employing 600 people. The investment is worthy of €33 million.
The complex is expected to be completed by the end of 2020 with production of parts from the complex starting in 2021. FACC wants to grow and be innovative. Therefore, the company intends to work on strengthening the expertise of its employees, adding that Zagreb offers them a highly qualified workforce.
Moreover, it needs to be mentioned that FACC is a subsidiary of the Chinese state-owned company AVIC. FACC employs some 3,400 workers from 38 countries at 13 sites around the world.
Eurofound (2019), FACC, Business expansion in Croatia, factsheet number 97798, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/97798.
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