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 Swiss multinational group Ronal, producing alloy wheels for high-end cars (Ferrari, Lamborghini, Maserati), confirms its intention to close the controlled Venetian plant of the subsidiary Speedline in 9-12 months, i.e. by the end of 2022. Production will be transferred abroad to the other plants of the group (probably in Poland, but there are rumours also about Germany, Spain and the Czech Republic). The closure of the Italian plant located in Santa Maria di Sala will entail the dismissal of 600 employees.
The company justified its decision with the allegedly non-economic sustainability of the plant, worsened by the crisis which has slowed down the pace of production. According to Ronal, the plant's losses amount to around 20 million per year.
The reactions of both trade unions and political parties are negative. Trade unions have called an 8-hours strike. Both are asking for immediate intervention by the government, and also by the employer association Confindustria.
Eurofound (2021), Speedline, Offshoring/Delocalisation in Italy, factsheet number 106027, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/106027.