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.
Bandag, a producer of tyres specialised in retreading, and part of the international Bridgestone group, has announced it will be closing its facility in Dilsen-Stokkem. All 111 employees are at risk of losing their job.
According to the company management, the European market has shrunk significantly over the past decade (-30 per cent) due to imports of cheap tyres from East Asia, leading to overcapacity and uncompetitive production costs. Previous efforts to save the company from closure and delocalisation have failed and production will now be moved to Poland.
As prescribed in the Renault Law, unions and company management will now commence with consultation and information rounds.
Eurofound (2024), Bandag, Offshoring/Delocalisation in Belgium, factsheet number 201613, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201613.
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