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.
Profialis announced their intention to close their plant in Oeselgem, Belgium at the beginning of 2015. The company, which was acquired by OpenGate Capital in 2013, is a Belgian- French producer of PVC-frames for windows and doors. As reported on the European Restructuring Monitor, the company announced a collective redundancy of 104 blue-collar workers and 42 white-collar workers along with the closure of the facility in Oeselgem. Management says that the unit has been operating at half capacity due to years of economic downturn and reduced demand in its main markets (Benelux and France). The company has already moved 60% of Belgian production to France in line with the decision to close the Belgian unit and centralise all activities at Clerval, France. It is still unclear whether this decision will trigger the creation of jobs at the Clerval site.
Eurofound (2015), Profialis, Reshoring in France, factsheet number 241, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/241.
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