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.
Romania is on the short list of the world's number one mobile phone manufacturer Nokia, which intends to carry out an investment that could exceed 200 million Euro. Officials of the Finnish group visited a number of locations in the country and according to a local source they seem to be leaning towards Cluj, Tetarom industrial park, for the construction of a plant to manufacture mobile phones. 'We will sign a memorandum with Nokia next week. It is a 200 million Euro investment,' Marius Nicoara, a local authority representative of Cluj, told Reuters. The Romanian government will co-finance the investment with 30 million Euro by setting up the infrastructure of the industrial park Tetarom, including the electricity, running water and sewerage systems. The Nokia plant is expected to employ  up to 15,000 people in time with 2-3,000 in an initial phase. The agreement between Nokia and local council Cluj was signed on 26 March 2007 in Bucharest in the presence of prime minister Calin Popescu Tariceanu.
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Eurofound (2007), Nokia, Business expansion in Romania, factsheet number 65143, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65143.