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.
The German automotive supplier Kico has announced the closure of its plant in Halver, North Rhine-Westphalia, resulting in 150 redundancies.
The company cites persistent losses that could not be remedied as the reason. As a result, the site is to be closed by the end of November 2024. The 150 employees will lose their jobs. According to the company, a social plan is to be drawn up together with the works council.
The trade union is appalled by the closure plans. According to IG Metall, the social plan negotiations have not yet begun.
According to Kico, the company develops and manufactures components for cars. These include, for example, hinges, locking systems, mechatronic systems such as electric rear bonnet drives, closing aids and soft top locks, as well as convertible hinge systems and connecting elements for exhaust systems. The company belongs to the financial investor Mutares.
Eurofound (2024), Kico, Closure in Germany, factsheet number 201364, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201364.