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 Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Rubber And Plastic Products 22 - Manufacture of rubber and plastic products
124 jobs Number of planned job losses
Announcement Date
3 June 2013
Employment effect (start)
10 June 2013
Foreseen end date
30 September 2013
Description
On 31 May 2013, the Commercial Court of Macon has decided the takeover of Oxxo, a French manufacturer of PVC door and window frames, by the Algerian group Cevital. The buyer is to retain 288 of the 412 employees but will dismiss 124 and invest 12 million euros to continue the modernization of the plant and also start the production of aluminum joinery and shutters in the next two years.
The employees tried to create a cooperative to take over the site, but they failed to obtain enough funds to convince the court. Oxxo was placed into receivership since last February.
Sources
1 June 2013: Le Journal de Saône-et-Loire
9 June 2013: Le Journal de Saône-et-Loire
3 June 2013: Les Echos
1 June 2013: France3 (online)
Citation
Eurofound (2013), Oxxo, Merger/Acquisition in France, factsheet number 75496, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75496.
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