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.
Featherstone-based engineering plant, Sandvik Machining Solutions has announced it is to close. The closure of the plant will result in the loss of 143 jobs. Production will be moved out of the UK to as yet unspecified sites. Lack of growth in the company's primary markets in the UK has been cited as the reason for the move. The company specialises in the manufacture of metal-cutting tools for engineering, aerospace and car firms.
The company has begun discussions with the Unite trade union, which represents many of its workers. It is expected that the Featherstone plant will close at the end of the year.
Eurofound (2014), Sandvik Machining Solutions, Offshoring/Delocalisation in United Kingdom, factsheet number 76990, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76990.