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.
In summer 2023, local news reported the closure of Sappi's paper plant in Stockstadt, Bavaria, affecting 550 employees.
Management and employee representatives have negotiated a social plan for the affected staff members. All sides have agreed on not disclosing any details. However, the plant in Stockstadt will stop its work at the end of December 2023 and will be fully closed in March 2024.
Sappi is a South-African company specialised in paper production. Plants are not only closed in Germany but also in Lanaken (Belgium)(Sappi-2023-BL). Closures are due to overcapacities in paper production and due to a slow economy as well as increasing (energy) costs since the war in Ukraine started.
Eurofound (2023), Sappi, Closure in Germany, factsheet number 200566, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200566.