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 Terni site of Treofan, a company producing polypropilen products owned by the Indian multinational company Jindal, notified 142 workers of a collective dismissal procedure by letter. Among the reasons cited by the liquidator are the growing competitiveness of the market, the economic situation in 2020 also due to the COVID-19, increasingly higher operating costs including fixed production costs, energy consumption, labour and maintenance costs.
Both policymakers, local and national, and the trade unions expressed the urgent need to take every possible action, including legal ones, to avoid the closure of a company considered strategic not only at a regional but national level. Various proposals will be discssed, among which a possible take-over by the workers.
Eurofound (2020), Treofan, Bankruptcy in Italy, factsheet number 102813, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102813.