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 Fabricated Metal Products, Except Machinery And Equipment 25 - Manufacture of fabricated metal products, except machinery and equipment
100 jobs Number of planned job losses
Announcement Date
22 September 2005
Employment effect (start)
1 January 2006
Foreseen end date
30 June 2006
Description
Tool maker Ex-Cell-O is planning a 20 % reduction of its workforce. Restructuring is to begin at the start of 2006. A spokesman for the mother company IWKA said that Ex-Cell-O was suffering from overcapacity and shrinking margins. Sueddeutsche Zeitung reports that IWKA is planning to sell its daughter company and that the measures were intended as a preparation for the sale.
Sources
23 September 2005: Sueddeutsche Zeitung
Citation
Eurofound (2005), Ex-Cell-O, Internal restructuring in Germany, factsheet number 62320, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62320.
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