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.
GTA Moda was acquired by Venetwork in 2014. The first move undertaken by the new management was the backshoring of part of production from Romania to Italy, despite higher labour costs (total costs in Italy are estimated to be 50% higher than in Romania). The backshoring aims to enhance quality as well as to preserve the "Made in Italy" image of the company. In order to be economically sustainable, production in Italy needs to be organized into lean processes. Only 40 employees will be involved in the Tencarola plant in Italy following a €1 million investment. The company employs 300 workers in Romania.
Eurofound (2014), Gta Moda, Reshoring in Italy, factsheet number 208, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/208.