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.
Nitrogen products and fertiliser manufacturer Yara has announced the conversion of its Montoir-de-Bretagne (Loire Atlantique) production site into a warehousing site, with the loss of 139 jobs out of a total of 171. Fertiliser production is due to cease definitively within six months. The world leader in the production and distribution of mineral fertilisers is citing a drop in sales to justify its decision.
The plant, classified as a Seveso high threshold facility, has been criticised on several occasions for non-compliance with environmental standards. In June 2023, Yara was ordered to pay a fine of €519,900 for discharging too much dust into the atmosphere from its Montoir-de-Bretagne plant.
Eurofound (2023), Yara France, Internal restructuring in France, factsheet number 200487, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200487.