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.
Duna Furnace, an iron and steel manufacturer owned by British-Indian company Liberty Steel, is undergoing liquidation and has announced the layoff of most, if not all, of its 944 employees. Negotiations between the employer and employee representatives regarding the terms of the layoffs are set to begin. The timeframe for the layoffs is not yet known. Duna Furnace is one of the two parts of the former metallurgy firm Dunaferr that had been salvaged, restructured and sold to Liberty Steel around mid-2023, while Dunaferr itself entered liquidation. Duna Furnace primarily comprises what used to be Dunaferr’s coke production unit. Despite earlier promises by Liberty Steel, the purchased units never resumed full operation, and in November 2024, the liquidation process for both units began. The government has issued a call for tenders for the sale of both former Dunaferr firms, but no serious offer has arrived so far for Duna Furnace. If the sale of Duna Furnace is successful, about 800 workers could be re-employed at the reorganised firm.
Eurofound (2025), Duna Furnace Dunai Vasmű, Closure in Hungary, factsheet number 202697, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202697.