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.
Bassano Grimeca is a major supplier of wheels and aluminium parts for motorcycles. Recently its two major customers (Piaggio and Aprilia) came under the same ownership, as Piaggio acquired Aprilia at the end of 2004, and the new management opted to buy part of components in China, with a view to reduce costs and increase the group's competitiveness. Despite a commitment by Piaggio and Aprilia to maintain at least 60% of previous purchase levels by 2008, following the mediation of the Italian government, Bassano Grimeca had to prepare a restructuring plan to address the new situation and try to diversify production and develop new markets. The restructuring plan envisages new investments of €25 billion but will also affect 250 jobs.
Eurofound (2005), Bassano Grimeca, Internal restructuring in Italy, factsheet number 61904, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61904.