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.
Dutch foundry company VDL Castings from Heerlen in the Netherlands has announced its closure and subsequent dismissal of 140 workers.
The background of the closure are climbing costs, the need for equipment and process renewals, as well as tightened environmental requirements and the energy transition.
The company is a subsidiary of VDL Groep, and it mainly produces cast iron parts for mechanical engineering and rails, amongst others. The company was acquired by VDL Groep in 2017, which invested millions of Euros in the outdated foundry company.
VDL Groep’s other subsidiary company, VDL Castings Weert, was closed in 2019. Additionally, activities of yet another subsidiary of VDL Groep, VDL Nedcar have been significantly scaled back.
VDL Groep is a family-owned business conglomerate engaged in the development and production of the manufacturing of finished and semi-finished products, buses, and coaches. It has production facilities in several European countries and sales offices worldwide.
Eurofound (2024), VDL Castings, Closure in Netherlands, factsheet number 200674, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200674.