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.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Fabricated Metal Products, Except Machinery And Equipment 25 - Manufacture of fabricated metal products, except machinery and equipment
95 - 125 jobs Number of planned job losses
Announcement Date
13 February 2004
Employment effect (start)
Foreseen end date
1 February 2002
Description
The Ateliers Louis Carton, boiler maker, has filed for bankruptcy on February 13 2004. Reasons are the lack of investment in this traditional industry, the high euro for a company that exports 60% of its production, and low cost competition from the East. Since June, all personnel and stakeholders had accepted to lower their income in order to save the company, but to no avail. On the 13th, 115 employees were fired. 20 of them will be reassumed with temporary contracts to carry on production, waiting for a possible take over bid. Social partners keep their faith in the management team.
Sources
19 February 2004: Les Echos
14 February 2004: Le Soir
13 February 2004: Les Echos
Citation
Eurofound (2004), Ateliers Louis Carton (ALC), Bankruptcy in Belgium, factsheet number 59920, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59920.
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