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 Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27 - Manufacture of electrical equipment
100 jobs Number of planned job losses
Announcement Date
27 March 2008
Employment effect (start)
Foreseen end date
Description
Athlone based electrical cable manufacturer Nexans Ireland described the weakening of the dollar and, more importantly, sterling against the euro, as the reason behind its decision to announcement the closure of its Athlone plant with the loss of 100 jobs. As of March 2008, there is no information on when the job losses will be implemented by.
Nexans said the factory had been loss-making for 10 years. Successive redundancy programmes and restructuring plans had failed to improve its competitiveness.
Its main customers were electrical distributors in the UK and Hong Kong.
Sources
28 March 2008: The Irish Times
Citation
Eurofound (2008), Nexans Ireland, Closure in Ireland, factsheet number 66466, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66466.
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