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 Wood And Paper Materials Manufacture Of Wood And Of Products Of Wood And Cork, Except Furniture; Manufacture Of Articles Of Straw And Plaiting Materials 16.21 - Manufacture of veneer sheets and wood-based panels
170 jobs Number of planned job losses
Announcement Date
11 September 2012
Employment effect (start)
Foreseen end date
Description
Formica, Spanish company specializing in the manufacturing of decorative laminated surfaces, will apply for the redundancy procedure affecting 170 employees (83% of its workforce) of its plant located in Galdácano (Vizcaya, Basque Country).
The company will stop production activities on this site and concentrate all production within in its plant located in Valencia.
The company representatives say the decision on redundancies is due to the sales decline on the national market.
Sources
11 September 2012: Expansión
Citation
Eurofound (2012), Formica, Closure in Spain, factsheet number 74115, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74115.
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