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. 28.41 - Manufacture of metal forming machinery
180 jobs Number of planned job losses
Announcement Date
19 April 2022
Employment effect (start)
19 April 2022
Foreseen end date
31 December 2022
Description
Napomar, a Romanian producer of small and medium size grinding machines, will close its production plant in Cluj-Napoca (Cluj County). The factory closure will affect 180 employees. The company will put all equipment and machinery up for sale. Napomar was established in 1973. In 2001, the company established a joint venture with the Spanish Danobat Group.
The company's main customers have been Emerson Industrial Group, the Danobat Group and US General Electric. The decision regarding the closing of the company has been taken by the majority shareholder, SIF Banat – Crișana (a financial investment company).
The management of the company did not make any public statement regarding the reasons for the restructuring and closing the plant. However, between 2016 and 2020 the company has accumulated losses of around € 2.5 million. Furthermore, the COVID-19 pandemic seems to have led to a loss of clients and demand for the products of the company.
Eurofound (2022), Napomar, Closure in Romania, factsheet number 106720, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/106720.
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