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.
South West; Gloucestershire; Wiltshire and North Somerset
Location of affected unit(s)
Severnside
Sector
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20 - Manufacture of chemicals and chemical products
127 jobs Number of planned job losses
Announcement Date
9 October 2007
Employment effect (start)
1 January 2008
Foreseen end date
Description
GrowHow UK, a firm that manufactures fertilisers and chemicals, is to close its Severnside plant with the loss of 127 jobs. Management at the firm stated that the plant could not be run cost effectively, and that production at the site would end in 2008. The closure is expected to cost approximately 13 million GBP, and this figure will include redundancy and pension payments. As of October 2007, the firm is consulting employees and trade unions on the closure. Chief Executive Officer Paul Thompson stated:
‘It is regrettable that closure is necessary, as we employ many skilled and dedicated people at the facility. However, the facility is too small to compete effectively without immediate significant investment.’
Sources
9 October 2007: BBC News
Citation
Eurofound (2007), GrowHow UK, Closure in United Kingdom, factsheet number 65911, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65911.
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