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 Chemicals And Pharamceuticals Manufacture Of Chemicals And Chemical Products 20 - Manufacture of chemicals and chemical products
New offshoring locations
Not Available
800 jobs Number of planned job losses
Announcement Date
12 November 2004
Employment effect (start)
12 November 2004
Foreseen end date
31 December 2008
Description
The German manufacturer of dye for textiles, Dystar, is planning to cut around 800 jobs in Germany until 2007/2008. The company employs 1,800 staff in Germany. The company's sites in Frankfurt and Ludwigshafen will be affected. Around 450 jobs are to be lost in 2005. The job cuts are said to be due to costs and to a shift in the market towards Asia. As a result, DyStar is planning to transfer jobs to Asia. This is the first major measure planned by US investment company Platinum Equity, which acquired DyStar in August. DyStar had been set up as a joint venture by German chemicals groups Hoechst, BASF and Bayer in 1995.
Sources
13 November 2004: Frankfurter Allgemeine
15 November 2004: Handelsblatt
Citation
Eurofound (2004), Dystar, Offshoring/Delocalisation in Germany, factsheet number 60809, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60809.
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