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 Food And Beverage Manufacture Of Food Products 10 - Manufacture of food products
175 - 285 jobs Number of planned job losses
Announcement Date
2 August 2005
Employment effect (start)
21 September 2005
Foreseen end date
Description
International group Istrabenz is consolidating the effects of a merger of two of the largest food processing companies in the country, Droga and Kolinska. The downsizing of administrative activities as well as cuts in the production lines (production of jam, vinegar and packaging services) present at both parent firms is one of the outcomes. More than 170 jobs will be lost with a majority facing direct dismissal by autumn 2005.
On 18 October 2005 the management came forward with new redundancy figures after an internal re-systematisation of labour division: a fifth (285) of all the workers face loosing jobs. This announcement coincides with company's enlistment on a local stock exchange market.
Sources
2 August 2005: Finance
19 October 2005: Dnevnik
Citation
Eurofound (2005), Droga Kolinska, Merger/Acquisition in Slovenia, factsheet number 62034, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62034.
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