TitanX Cooling AB

Type
Internal restructuring
Country
Sweden
Region
Södra Sverige; Sydsverige; Blekinge län
Location of affected unit(s)
Mjällby
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
29.3 - Manufacture of motor vehicle parts and accessories
29.3 - Manufacture of motor vehicle parts and accessories
95 jobs
Number of planned job losses
Job loss
Announcement Date
6 November 2008
Employment effect (start)
19 February 2009
Foreseen end date
1 May 2009

Description

TitanX is a global company with three divisions that operates in Sweden and the USA. The focus is strategically oriented on medium and heavy duty diesel engine cooling solutions.

The notice of 95 employees altogether is mainly due to a decline in the market for truck manufacturers, which are the main customers for TitanX. First, the notice concerned 40 employees and then 55 more was added to the same notice. The head of the company still hopes that the notices will be able to be withdrawn if the market will improve, however the prospect of that does not look too good due to the financial recession.

Citation

Eurofound (2008), TitanX Cooling AB, Internal restructuring in Sweden, factsheet number 67672, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67672.