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.
Norwegian aluminium manufacturer Hydro Extrusion Iberia announced the closure of two sites in Spain: Santa Oliva (Tarragona) and Pinto (Madrid). The establishments together employ 140 workers. The company counts that approximately half of the job losses will be relocated to other establishments in Spain.
According to the company, the two plants presented losses for years and the measures adopted in the past did not generate a positive effect. However, the employee representatives disagree and state that the company is progressively abandoning the facilities and carrying out a collective dismissal despite more than €476 million in revenues for 2018. In the announcement, the company assures that negotiations will be undertaken with the aim of reaching a satisfying agreement for all parties involved.
Eurofound (2019), Hydro Extrusion, Closure in Spain, factsheet number 98041, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98041.