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.
Wienerberger, one of the world's largest building materials producers, is about to close a further 20 of its more than 200 plants in Europe and the USA, with the loss of between 600 and 800 jobs in total. Thus, the company continues its restructuring programme started in 2008, when 27 plants were closed down. The traditional Austria-based enterprise, which specializes in the manufacture of bricks and clay roof tiles and which is traded on the Vienna Stock Exchange, has still to cope with dropping turnover and profits, mainly as a result of the global economic downturn. The further restructuring was announced on 17 March 2009 by the management board. The short-term aim is to secure the group's free cash-flow and liquidity. The closure and lay-offs will affect both Europe and the USA and come into effect in the course of 2009.
Eurofound (2009), Wienerberger, Internal restructuring in World, factsheet number 68592, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68592.