Diamant Boart

Type
Merger/Acquisition
Country
Belgium
Region
Location of affected unit(s)
Brussels, Zonhoven
Sector
Manufacturing
(28) Manufacture of machinery and equipment
28 - Manufacture of machinery and equipment n.e.c.
28 - Manufacture of machinery and equipment n.e.c.
160 jobs
Number of planned job losses
Job loss
Announcement Date
5 October 2002
Employment effect (start)
Foreseen end date

Description

Following the acquisition of Diamant Boart by Electrolux in July 2002, 140 workers were made redudant at the Brussels unit and 20 at the Zonhoven unit. Part of the production will be relocated to Greece, Portugal and China. Diamant Boart is a manufacturer and distributor of diamond tools and related equipment for the construction and stone market.

Citation

Eurofound (2002), Diamant Boart, Merger/Acquisition in Belgium, factsheet number 59467, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59467.