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 Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Other Non-Metallic Mineral Products 23.1 - Manufacture of glass and glass products
120 jobs Number of planned job losses
Announcement Date
31 July 2020
Employment effect (start)
31 July 2020
Foreseen end date
30 September 2020
Description
Romanian glass company, Fabrica de Sticla Avrig specialized in the production of hand-blown glass, has announced plans to close its glass plants in Avrig (Sibiu County) by the end of September 2020. Around 120 employees will be dismissed in this collective redundancy. All its products were exported to European (90%) and American (10%) markets. The plant was established around 1625.
According to a company's spokesperson, the reasons behind the closure are skilled workforce shortages, an oversized production compared to the actual sales over last years, very high personnel, gas and power costs, an ongoing bankruptcy process and the consequences of the COVID-19 outbreak.
In 2004, the plant was bought by the French group ARC International, the producer of the Luminarc glassware, for about $2 million and subsequently transferred to a company registered in the British Virgin Islands, Vois Group Limited.
Eurofound (2020), Fabrica de Sticla Avrig, Closure in Romania, factsheet number 101800, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101800.
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