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.
LBP, copper products manufacturer, has been put in voluntary liquidation by the group Lamitref. The company had been loosing money for some years, and prospects for the market are not good. The price of copper is raising while the price of copper products is lowering. Furthermore, the company had just lost a contract with Belgium to produce the Belgian euro coins. 188 employees are to loose their jobs. No social plan has been put forward by management, which does not intend to follow the 'Renault' legislation; unions are strongly protesting. On March 20th, an agreement was reached on a social plan between unions and management.
Eurofound (2004), LBP, Closure in Belgium, factsheet number 59240, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59240.