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 Other Non-Metallic Mineral Products 23.11 - Manufacture of flat glass
114 jobs Number of planned job losses
Announcement Date
17 September 2014
Employment effect (start)
Foreseen end date
Description
The commercial court of Périgueux has approved the takeover of the Isoa plant at Boulazac (Dordogne) by the group Thévenin that will keep 63 jobs on a total workforce of 177 people. 114 employees will be dismissed. Isoa is specialised in heat and sound insulation and has suffered from the building construction crisis in France.
This takeover could lead to other job cuts as Thévenin has forecasted to move its regional headquarter to the Boulazac site which means it will have to close the plant and remove the Isoa brand. As reported, the employees are disappointed as they would prefer a takeover offer from another company, which would keep 70 positions and the brand. In 2011 Isoa cut about 108 jobs due to financial difficulties (seeERM Factsheet).
Sources
18 September 2014: L'usine Nouvelle
17 September 2014: Sud-Ouest
Citation
Eurofound (2014), Isoa, Merger/Acquisition in France, factsheet number 77611, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77611.
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