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.
Smiths Group, the diversified engineering company, is closing a medical devices manufacturing plant in Hythe, Kent, with the loss of 534 jobs. It will transfer the plant's work to Mexico. Martin Jamieson, managing director of the Smiths medical business, said: 'This move is driven by the global competitive environment for our business. Our competitors have all made similar moves to low-cost countries, which makes today's announcement unavoidable.'
Eurofound (2006), Smiths Group, Offshoring/Delocalisation in United Kingdom, factsheet number 63223, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63223.