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.
Akzo Nobel, a Dutch multi-national firm that produces paint and coatings, has announced that it will close its Schramm Coatings site in Offenbach, Germany, resulting in the loss of about 140 jobs.
Akzo Nobel justifies the closure of Schramm Coatings, which specialises in the production of coatings for the automotive industry, with steady losses over the past years and the difficult situation in the automotive industry. Akzo Nobel announced that it will cease production and all other activities at the site by August 2024. The restructuring will start in January 2023.
The works council announces that it will fight for a fair reconciliation of interests and a good social plan in the interests of the employees in the upcoming negotiations.
Schramm Coatings has been part of Akzo Nobel since 2011. Akzo Nobel Germany employs 1200 people at four production sites and four office locations, including Offenbach.
Eurofound (2022), Schramm Coatings, Closure in Germany, factsheet number 107027, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107027.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
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This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
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In 2024, the automotive sector in the EU came to the fore in public and policy discussions. The focus was on the slowdown in electric vehicle (EV) sales, rising global competition, belated investments in new technologies, and the potential closure...
