Restructuring events
European Restructuring Monitor (ERM)
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.
On 17 April Schindler Fahrtreppen International announced the closure of its escalator production plant in Viella, with the loss of about 150 jobs by September 2007. The company is a subsidiary of the Swiss-based Schindler Group specialised in the manufacture of elevators and escalators. According to the management board, their business segment has suffered from competition from Chinese suppliers despite considerable investments during recent years. Increasing costs pressure has forced the closure of the Vienna production plant. A social plan is being agreed by the two sides of industry. A Schindler Group competence centre, dealing with escalators international trading, will remain in Vienna.
Eurofound (2008), Schindler Fahrtreppen International, Closure in Austria, factsheet number 66566, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66566.