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 Machinery And Equipment Manufacture Of Machinery And Equipment N.E.C. 28.96 - Manufacture of plastics and rubber machinery
120 - 130 jobs Number of planned job losses
Announcement Date
8 February 2020
Employment effect (start)
1 April 2020
Foreseen end date
Description
The insolvent German machine manufacturer Bielomatik will be acquired by two Italian investors in April 2020, which will ultimately result in the loss of 120 full-time jobs at its plant in Neuffen. While details on the agreement have not been published, the Italian investment requires that the workforce is reduced to 193 employees in total, which equals the loss of approximately 125 full-time jobs. Currently the company employs 340 workers, while 20 of them are in full-time traineeships. The traineeships will be prolonged after the acquisition. The affected employees will be able to transfer to a transition company, which intends to find new occupational opportunities for these employees.
Bielomatik, declared insolvency in October 2019, following the challenges in the automotive industry.
Sources
8 February 2020: Nürtinger Zeitung (online) (www.ntz.de)
11 February 2020: Südwest Presse (online) (www.swp.de)
Citation
Eurofound (2020), Bielomatik, Merger/Acquisition in Germany, factsheet number 100061, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/100061.
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