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.
Philip Morris has offered to buy back the exclusive right Amer Tobacco Ltd holds to produce and sell Philip Morris cigarettes in Finland. According to the proposal, the license held by Amer Tobacco would end during the spring of 2004. In line with this announcement, Amer Group is reviewing the possibility of withdrawing from the tobacco business and has initiated cooperation negotiations with the personnel (320 employees) of Amer Tobacco in Finland.
15 January 2004.
Amer Tobacco Ltd has concluded the cooperation negotiations, following the announcement of Amer Group's intention to withdraw from its Tobacco business. Due to production being discontinued, 250 employees will be made redundant.
Eurofound (2003), Amer Tobacco, Merger/Acquisition in Finland, factsheet number 59378, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59378.