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 Basic Metals 24.52 - Casting of steel
100 jobs Number of planned job creations
Announcement Date
29 August 2006
Employment effect (start)
Foreseen end date
Description
On 29 August 2006, the German steel company Schmolz & Bickenbach announced further plans for internal restructuring. Within the years 2002 to 2006 the provider of specialised steel did grow substantially. Due to mergers and acqusitions the workforce increased from about 2,500 to 10,000. In August the company announced that it will sell its subsidiary Stahl Gerlafingen and that it plans to partly sell two further subsidiaries: FSG Automotive and S + B Hydroform. Additionally, it is also planning to expand in Turkey, China and the Middle East. According to the company, no job cuts are to be expected. In 2006, due to business expansion, S + B will even create about 100 new jobs at its Siegen plant.
Sources
30 September 2006: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2006), Schmolz + Bickenbach (S + B), Business expansion in Germany, factsheet number 64006, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64006.
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