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 (29 - 30) Manufacture for transport equipment 29 - Manufacture of motor vehicles, trailers and semi-trailers 29.32 - Manufacture of other parts and accessories for motor vehicles
85 - 137 jobs Number of planned job losses
Announcement Date
31 March 2025
Employment effect (start)
30 April 2025
Foreseen end date
Description
Schmidt Light Metal (SLM), a Portuguese manufacturer of injection castings for the automotive industry, has been declared insolvent causing the layoff of 85 workers.
The company is part of the group of the same name that was officially declared insolvent at the end of March. Previous financing struggles of the SLM group led to discussions with unions about a possible liquidation of the group's companies including SLM. By filing for insolvency the group hoped to avoid defaulting on its debt. Conversely, the SLM group was able to negotiate a Management Buy-Out, restructuring part of its debt and recovering 224 workers of the initial 309 to be laid off at SLM.
The SLM group including SLM has been operating in Portugal since 1989. It plays a key role in Portugal's automotive industry with its castings being present in 20% of cars produced in Europe.
Eurofound (2025), Schmidt Light Metal , Bankruptcy in Portugal, factsheet number 202602, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202602.
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