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.
On September 25th, during a Works Council meeting, the French automotive equipment manufacturer Group Novares announced the closure of their Ostwald (Bas-Rhin) site, specializing in trim and plastic injection, where 122 people are employed. This decision follows a failed commercial negotiation with the British company Ineos, facing financial difficulties. However, the site's sales have been in decline since 2018, dropping from a monthly average of €3.75 million to €1 million.
Unions have announced a demonstration for October, and the Paris-based firm Oneida is actively searching for a buyer for the site.
Group Novares, formerly known as Mécaplast, previously restructured in 2009, cutting 138 jobs Mécaplast 2009 - FR.
Eurofound (2024), Groupe Novares, Closure in France, factsheet number 201667, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201667.