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 20 October 2011, the Swiss chemicals group Petroplus announced the partial termination of its oil-refinery activities at the plant of Petit-Couronne, which currently employs 550 people. Some 120 jobs will be lost with the closure. The company explained its decision by overcapacity in a highly competitive market.
It is the fourth announced oil-refinery closure in France in recent years, after Total (ERM Factsheet), Petroplus (ERM Factsheet) and LyondellBasell (ERM Factsheet). The CGT union believes that this trend is accompanied by an increase in imports of refined petroleum products.
Eurofound (2011), Petroplus, Internal restructuring in France, factsheet number 72620, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72620.