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 Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20.15 - Manufacture of fertilisers and nitrogen compounds
200 jobs Number of planned job losses
Announcement Date
14 May 2014
Employment effect (start)
Foreseen end date
1 June 2014
Description
Ga Pro Co Chemicals, a company producing granular fertilizers, will cut 200 jobs after closing its plant in Săvinesti. According to the sources, the plant ceased its operations two weeks ago. The source also notes that jobs are in danger at two more plants, Nitroporos Fagaras and Amurco Bacău, as they are also facing bankruptcy.
According to the sources, the closure is related to last year’s increase in the price of methane gas, which makes up 80% of the plant’s expenses. The source notes that there has also been a decrease in demand for fertilizers in the market.
Eurofound (2014), Ga Pro Co Chemicals, Bankruptcy in Romania, factsheet number 77260, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77260.
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