Type
Merger/Acquisition
Country
Germany
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacture Of Tobacco Products
Manufacture Of Tobacco Products
12 - Manufacture of tobacco products

470 jobs
Number of planned job losses
Job loss
Announcement Date
18 November 2003
Employment effect (start)
1 May 2002
Foreseen end date
1 November 2003

Description

Since the acquisition of the German company Reemtsma by Imperial Tobacco, 1,500 jobs have been supressed worlwide last year, from which 470 have been lost in Germany. This was announced in the provisionnal annual report for the year 2003. The integration is happening successfully and quickly and the turnover grew from £8,28 billions to £11,41 billions.


Sources

  • 18 November 2003: Financial Times Deutschland

Citation

Eurofound (2003), Imperial Tobacco, Merger/Acquisition in Germany, factsheet number 59714, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59714.