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.
The Austrian sugar and fruit processing company Agrana, which has been listed on the Viennese stock exchange, will in the course of a thorough restructuring close down two of its 11 sugar factories, one in Hohenau in the province of Lower Austria (Land Niederösterreich) and one in Rimavská Sobota in Slovakia. 136 and 123 employees, respectively, stand to lose their jobs. In order to mitigate the consequences of the planned redundancies, social plans will be drawn up. According to the companys supervisory board, continuously declining sugar prices and sizeable payments to the EU restructuring fund will greatly intensify pressures on the whole industry to reduce costs. Far-reaching rationalisation and concentration are therefore unavoidable for the industry in general and for the company in particular, the supervisory board stated. Both plants concerned have been processing beet during each years campaign.
Eurofound (2006), Agrana, Internal restructuring in European Union, factsheet number 62848, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62848.