Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacture Of Chemicals And Pharamceuticals
Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations
21 - Manufacture of basic pharmaceutical products and pharmaceutical preparations

0 jobs
Number of planned job losses
Job loss
Announcement Date
8 December 2003
Employment effect (start)
1 January 2004
Foreseen end date

Description

Aventis, the Franco-German pharmaceutical group, could close half of its production sites worldwide. As of 2004, measures will be taken in order to stimulate company growth, cutting costs by 500 million euros per year till 2006. Slowing of sales in the US market and changing health policies in France and Germany explain the financial difficulties the group is facing.


Sources

  • 9 December 2003: Les Echos

Citation

Eurofound (2003), Aventis, Internal restructuring in World, factsheet number 60134, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60134.