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 Wood And Paper Materials Manufacture Of Paper And Paper Products 17 - Manufacture Of Paper And Paper Products
1,194 jobs Number of planned job losses
Announcement Date
11 March 2023
Employment effect (start)
12 March 2023
Foreseen end date
Description
Sappi, a South-African multinational company specialised in the production of paper products has announced plans to close its facilities in Lanaken (Belgium) and Stockstadt (Germany), leading to the lay off of around 1194 employees of its EU workforce.
The economic downturn and the geopolitical instability in Europe highly affected the company, which faced a significant overcapacity in graphic paper production. Moreover, the increasing input costs exacerbated the situation. Sappi Lanaken Mill and Sappi Stockstadt Mill are integrated pulp and paper mills, employing around 644 and 550 workers in total, respectively.
The related Belgian restructuring event has been recorded in the ERM database: Sappi 2023 - Belgium.
Eurofound (2023), Sappi, Closure in European Union, factsheet number 200528, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200528.
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