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.
On 16 October 2024, SNOP Automotive Gent, a manufacturer of bodywork components and supplier to Audi Brussels, announced its intention to close during a works council meeting. The closure threatens the jobs of 150 employees.
The decision follows uncertainty surrounding the future of Audi’s Brussels plant in Vorst, which is set to cease production of the Q8 e-tron without a successor model. The lack of new investment has placed 3,000 jobs at risk at the Audi site, with knock-on effects for its suppliers.
The closure came at a surprise to the trade unions given the company's strong financial results. Consequently the unions are calling for a robust social plan for the affected workers.
Formerly known as TOWER Automotive, the company was established in Gent in 2002 and initially supplied parts to Volvo Cars.
Eurofound (2024), SNOP Automotive, Closure in Belgium, factsheet number 203646, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203646.