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 Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.1 - Manufacture of basic iron and steel and of ferro-alloys
800 jobs Number of planned job losses
Announcement Date
20 May 2005
Employment effect (start)
20 May 2005
Foreseen end date
31 December 2010
Description
According to the 2004-2010 national strategy for the restructuring of the Romanian iron steel industry, Combinatul Siderurgic Reşiţa, located in Reşiţa (Vest region, Caraş Severin county) will decrease its employees' number by 100 in 2005. By 2010, employment figures at Combinatul Siderurgic Reşiţa will fall down to 1,200 jobs.
In February 2004 the plant was acquired by the German group Sinara Handel, which is part of the holding TMK (the largest Russian tubes manufacturer).
The steel plant in Resita manufactures constructional steels, tool steels and steel grades for the tube production. The ironworks in Resita are the oldest in Romania, since the first two blast furnaces were starting to operate in July 1771.
Sources
20 May 2005: Economistul
Citation
Eurofound (2005), Combinatul Siderurgic Reşiţa, Internal restructuring in Romania, factsheet number 61871, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61871.
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