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.
Production at the iron and steel factory in Sisak, Croatia has stopped, and dismissals have begun for 100 workers. Management personell have been offered positions at the company headquarters in Udine, North Italy. Only the most necessary personnel in finance and maintenance will remain employed until June 2016 when the owner of the factory, the ABS company - a part of the Italian Group Danieli - will decide on the final fate of the Croatian company: closing, continuation of production or sale. The Italian company bought the plant in 2012 after the departure of the previous owners CMC. The closure is due to the large amount of cheap steel from China, Turkey and the Ukraine.
Eurofound (2015), Zeljezara Sisak (Sisak Iron and Steel Factory), Internal restructuring in Croatia, factsheet number 85557, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/85557.