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.
On 7 January, the Commercial Court of Marseille appointed mining logistics specialist United Mining Supply (UMS) to take over the world leader in specialty alumina, Alteo Gardanne. UMS was the only group vying to take over the company. This takeover envigages the loss of 98 jobs out of the site's 480. The takeover is accompanied by an investment of €30 million (plus €10 million in working capital) to commission a new furnace for the production of very high value-added alumina. With this investment, which will be fully operational in five years, UMS intends to double the plant's capacity and increase its turnover from €177 million last year to €260 million.
UMS has a turnover of 300 million dollars and employs 4,000 people to manage, in particular, the export of minerals to China.
Eurofound (2021), Alteo Gardanne, Merger/Acquisition in France, factsheet number 102978, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102978.