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 24.52 - Casting of steel
115 jobs Number of planned job losses
Announcement Date
5 March 2015
Employment effect (start)
4 March 2015
Foreseen end date
Description
Scana Steel has gone into administration, resulting in dismissals for all 115 employees at the steel mill in Stavager, Norway. The financial situation for the company had been critical for some time. Scana Steel had 200 employees in 2010, and has since undertaken significant restructuring and job cuts. The company nevertheless had continuing negative results, and failed to find new owners.
The CEO of parent company Scana Industries expresses regret that they were unable to salvage the company, and expects that the bankruptcy will have negative consequences for local businesses in Jørpeland, where the steel mill created demand for various services.
Sources
4 March 2015: NRK Rogaland
25 March 2010: NRK Rogaland
Citation
Eurofound (2015), Scana Steel Stavanger, Bankruptcy in Norway, factsheet number 78761, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/78761.
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