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
10 August 2006
Employment effect (start)
1 August 2006
Foreseen end date
31 December 2006
Description
On 10 August 2006 GEA (Global Engineering Alliance), a technology group that focuses on specialty mechanical engineering and plant engineering, announced it was to cut 100 out of 250 jobs at its subsidiary Zimmer and to sell the company by the end of 2006. New orders at Zimmer, a plant engineering company for polymer industries, had been far below expectations. Though Zimmers negative business results are exceptional, GEA plans to reduce its plant engineering division and to sell most of the respective subsidiaries.
Sources
11 August 2006: Handelsblatt
Citation
Eurofound (2006), Zimmer, Internal restructuring in Germany, factsheet number 63898, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63898.
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