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 Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20 - Manufacture of chemicals and chemical products
210 jobs Number of planned job losses
Announcement Date
17 April 2008
Employment effect (start)
25 April 2008
Foreseen end date
31 December 2008
Description
TDR Metalurgija, producer of electrochemical products (mass ferroalloys, calcium carbide, filter dust) in Ruše, Northern Slovenia is to cut 210 jobs.
The company is in serious troubles since last December and does not have resources to pay for raw materials and electricity nor is it able to modernise the production. The current majority owner (W&P Profil-Solarvalue Holding) bought the company in 2007 from state-owned HSE Group. Part of the deal was W&P’s promise to invest EUR 4 million in the modernisation however this has not taken place and as a result the bankruptcy procedure was launched. The most recent information on the number of employees dates back to 2006 when then the company had 388 employees. As reported, the main task of trade unions is to secure indemnity compensation for the people losing their jobs. They are mostly older workers and it is expected that indemnity compensation will be about EUR 10,000 per person.
Sources
17 April 2008: Finance
26 April 2008: Delo
Citation
Eurofound (2008), TDR Metalurgija, Bankruptcy in Slovenia, factsheet number 66555, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66555.
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