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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
100 jobs Number of planned job losses
Announcement Date
28 January 2004
Employment effect (start)
Foreseen end date
Description
The Saint-Dizier site of Valfond, the metallurgic group, has filed for bankruptcy. The commercial court of Saint-Dizier will wait until February 27 before giving a ruling on the case, in order for the sole takeover offer to be finalised. The site currently employs 260 workers. The takeover plan, lead by the present manager of the site, would involve the redundancy of 63 salaried workers, the termination of about 40 interim contracts and about 50 cleaning and maintenance contracts. In 2002, Valfond had received 5 million euros from local authorities to maintain production on the site of Saint-Dizier. On March 16, the plan was accepted and keeps 159 jobs on the site.
Sources
16 March 2004: La Tribune
28 January 2004: Les Echos
2 February 2004: Les Echos
Citation
Eurofound (2004), Valfond, Internal restructuring in France, factsheet number 60266, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60266.
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