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.
Lindab, the Swedish producer of building components and indoor climate control equipment, has announced the closure of IMP Klima in Godovič and the dismissal of 212 workers. The closure of IMP Klima offices’ in Serbia, Montenegro and Bosnia-Herzegovina will bring another fourteen layoffs. The executive director Ola Ringdahl informed employees at the general meeting on Tuesday (30 June 2020) by letter. The reason indicated for closure is that IMP Klima has failed to reach the Lindab’s target for profitability. The unit has not been profitable in recent years and the situation has been made critical with the onset of the COVID-19 crisis. As Ola Ringdahl wrote: ‘Within Lindab, all units must contribute to our target of 10% operating margin. We do not see a reasonable path to profitability and growth for IMP Klima. We have, therefore, decided to close down.’ The closure is foreseen for the end of 2020. Costs associated with the restructuring are estimated at 60-70m SEK (euro 5.7-6.7m).
Eurofound (2020), Lindab, Closure in Slovenia, factsheet number 101136, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101136.