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.
Aerumtec, the German manufacturer of wire products based in Weissenburg (Bavaria), has announced that it is closing its site in Bad Kötzting (Bavaria), thereby cutting 120 jobs.
The company justifies the closure with a rapid deterioration of the market situation, which could not prevent the closure of the site despite the reorganisation measures initiated. The Bad Kötzing site employs 120 people who will lose their jobs as a result of the closure. More detailed information on when and how the job cuts will take place is not yet known.
The IG Metall trade union is shocked and has announced that it will not stand idly by and accept the closure. They want to enter into tough negotiations.
With its headquarters in Weißenburg (Germany) and production facilities in Bad Kötzting (Germany), Roth (Germany), Cinderford (England) and Changzhou (China), around 500 employees produce copper products and industrial solutions with demanding technical specifications for customers all over the world on a total production area of 50,000 square metres.
Eurofound (2024), Aerumtec, Closure in Germany, factsheet number 201423, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201423.