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 Food And Beverage Manufacture Of Food Products 10.81 - Manufacture of sugar
234 jobs Number of planned job losses
Announcement Date
8 November 2007
Employment effect (start)
30 November 2007
Foreseen end date
31 December 2007
Description
Tereos, the French multinational producer of sugar, has announced that it is to close three sugar beet factories in France with the loss of 234 jobs. The sugar mills in Abbeville, Vic-sur-Aisne, and Marconnelle are all in Northern France and will be closed between November 2007 and December 2007. The company has stated that the closure of the three factories is due to the reduction of the European Union sugar quota and the subsequent drop in revenue that this entails for the firm. The firm has stated that it will diversify its activities as a result of the drop in sugar prices. It plans a 200 million EUR investment to increase the capacity of its sugar distillery in Origny Sainte-Benoite, and a second 200 million EUR investment to develop a wheat distillery in Lillebonne. Tereos operates 12 sugar beet factories in France. The group has an annual revenue of 3.1 billion EUR and employs 7,000 globally.
Sources
8 November 2007: Usine Nouvelle
Citation
Eurofound (2007), Tereos, Closure in France, factsheet number 65995, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65995.
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