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.
Manufacturing Manufacturing Of Furniture And Other Manufacturing Manufacture Of Furniture 31 - Manufacture of furniture
1,500 jobs Number of planned job creations
Announcement Date
16 September 2005
Employment effect (start)
16 September 2005
Foreseen end date
31 December 2006
Description
The French group Parisot has built a furniture factory in Târnăveni (Centru region, Mureş county) which is set to start manufacturing in October 2005. According to the mayor of Târnăveni, this is the first production module of two planned for this location. The production of the two new manufacturing plants is intended for sale on markets in France, Romania and other European countries. By the end of 2005, the factory will have 400 employees, a number which is expected to grow up to 1,500 workers by the end of 2006. According to the City Hall, the plant will be exempt from land tax until 2008. In the beginning of August 2005, the European Bank for Reconstruction and Development, EBRD, announced it would grant the Parisot group a loan of €18 million to finance a €40 million project. The project includes the construction of the two production units in Târnăveni, over a three-year period, and the modernisation of the Mobilux factory, which the French group already holds in Bucharest (Bucharest region).
Sources
21 September 2005: Economistul
19 September 2005: Ziarul Financiar
Citation
Eurofound (2005), Parisot, Business expansion in Romania, factsheet number 62306, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62306.
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