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.
Hydrogenics Europe, a producer of hydrogen generation machinery and hydrogen fuel cells based in Belgium, Canada and Germany, plans to relocate part of its hydrogen production plant from Oevel, Westerlo, Belgium to Guadalajara, Spain.
The move was announced by the CSC union, following an extraordinary meeting of the works council. The decision is driven by a need to reduce costs to safeguard the company's future. The move puts 100 jobs in Belgium in jeopardy. The challenge of recruiting skilled workers in Belgium has been tougher than anticipated. Additionally, the 'slowdown' of the European Green Deal and shifts in global climate targets have also altered market expectations.
Eurofound (2024), Hydrogenics Europe, Business expansion in Spain, factsheet number 202087, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202087.