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 Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.33 - Cold forming or folding
110 - 150 jobs Number of planned job losses
Announcement Date
3 October 2014
Employment effect (start)
Foreseen end date
31 December 2014
Description
Ruukki Romania announced plans to close its Bolintin-Deal plant this winter and cut 110 jobs. The restructuring is linked with a large job reduction plan after the merger of Swedish steel producer SSAB and Finnish steel producer Rautaruukkis.
Ruukki Romania, subsidiary of the newly created division Ruuki Construction, has 3 plants in Bolintin-Deal (Giurgiu County), Tunari (Ilfov County) and Racaciuni (BacauCounty). The company plans to transfer the civil construction business sector, mainly extension of roofing production, to Tunari and Racaciuni plants.
The closure of the Bolintin-Deal plant comes as a result of an internal restructuring process and will result in 110 job cuts and 50 relocations to the Tunari plant. Affected employees will be offered severance packages amounting to six months wages.
Sources
3 October 2014: Mediafax
6 October 2014: Ziarul Financiar
6 October 2014: Wall-Street
Citation
Eurofound (2014), Ruukki Romania, Internal restructuring in Romania, factsheet number 77705, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77705.
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