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.
Apollo Vredestein, a tyre manufacturer operating in the manufacture of rubber products sector, announced the permanent closure of its factory in Enschede, the Netherlands, resulting in the loss of approximately 500 jobs. The closure is scheduled to take place around the summer of 2026, with production activities being fully relocated to the Hungarian plant of its parent company, Apollo Tyres, located in Gyöngyöshalász.
According to company management, the decision was driven by persistently high energy costs, inflationary pressures and long-term profitability concerns, despite the factory reporting a positive financial result in 2024. The Enschede site will be gradually wound down over the coming year.
The company has indicated that a social plan is in place and that individual support measures will be offered to affected employees. Trade unions described the announcement as a severe blow to the workforce and the region. Local authorities expressed concern over the impact on Enschede, where Apollo Vredestein has been a major employer for over a century, while committing to support workers in finding alternative employment.
Eurofound (2025), Apollo Vredestein, Closure in Netherlands, factsheet number 203938, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203938.