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.
Invensys produces electronic controls for household appliances. It is a division of Invensys Controls Europe, which is a leading global provider of controls, systems and services used in the appliance, heating, air conditioning, commercial refrigeration, automotive and safety industries. The Italian Invensys plant is located in Lomazzo (Como); it manufactures electronic temperature controls for no-frost fridge and freezer appliances and it has 220 employees. On 30 March 2007, the company announced the closure of the Lomazzo plant by March 2008. The company has decided to relocate production in the Czech Republic (where labour costs are lower than in Italy), in order to cope with the new challenges connected with the internationalisation of markets and increased competition. The trade unions reacted to the company’s decision by taking several forms of industrial action. Moreover, they stressed the necessity to find suitable instruments in order to reduce the negative impacts on the local community caused by the relocation of many firms in the manufacturing sector. For this reason, the trade unions require the involvement of national authorities, demanding specific industrial policies to ensure investment of all the resources available in a few strategic sectors for the national economy.
Eurofound (2007), Invensys, Offshoring/Delocalisation in Italy, factsheet number 65186, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65186.