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 Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13 - Manufacture of textiles
118 jobs Number of planned job losses
Announcement Date
14 April 2006
Employment effect (start)
31 December 2007
Foreseen end date
Description
Textile company Pasmatex with a total turnover of EUR 4.4 million (of which 50% export in European Union Member States) intends to invest EUR 4 million in the next 18 month to relocate the plant it owns from the centre of Timişoara to the industrial area of the city. The turnover of the company decreased 20% compared to 2004, and the number of employees decreased from 718 to 600, according with the statement of General Director Maria Grapini as a result of the euro exchange rate and increased competition from the Chinese textile industry.
Sources
14 April 2006: Ziarul Financiar
Citation
Eurofound (2006), Pasmatex, Relocation in Romania, factsheet number 63328, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63328.
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