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.
Mayenne (Mayenne), Saint Eloy les Mines (Puy de Dôme) and Villefontaine (Isère)
Sector
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.51 - Casting of iron
195 jobs Number of planned job losses
Announcement Date
3 April 2007
Employment effect (start)
4 April 2007
Foreseen end date
31 May 2007
Description
The commercial court of Vienne, in the French department of Isere, announced on 3 April 2007 the bankruptcy and liquidation of cast-iron components manufacturer Grifs. The company has three production sites and a workforce of 195 employees: 111 employees in Mayenne Fontes Industrie (Mayenne), 33 employees in Saint Eloy les Mines (Puy de Dôme) and 51 employees in Villefontaine (Isère). The sites will operate until 31 May 2007. The chairman and managing director of the company explained that the family-owned manufacturer had been hit by a sharp rise in the price of raw materials since 2003 and competition from manufacturers in low-cost countries.
Sources
6 April 2007: L'Humanité
4 April 2007: AFP
5 April 2007: Les Echos
5 April 2007: Ouest France
Citation
Eurofound (2007), Grifs, Bankruptcy in France, factsheet number 65215, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65215.
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