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.
PPC Insulators, leading manufacturer of porcelain insulators for high-voltage power lines, will shut down its production site in Frauental, Styria, making 160 employees redundant.
The company was formed in 2001 after the merger of the US company ‘Porcelain Products’ and the European ‘Ceram’ group and currently employs 1,300 people worldwide. According to newspapers, management has announced plans to reduce production beginning in September 2017 before closing the site by the end of the year. Pending orders could be completed by the first quarter of 2018.
The works council said the step came as a surprise as the plant shows positive results and management only recently presented restructuring plans for a new start at the site. According to the works council affected employees have been offered jobs at different company sites, however they would all require moving abroad. A social plan has already been negotiated during the initial restructuring plans but needs to be adapted according to the new circumstance, employees’ representatives argue. So far there are no comments from management on this issue.
Eurofound (2017), PPC Insulators, Closure in Austria, factsheet number 90687, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90687.