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.
The Upper Austrian supplier of alloy components mainly for the German automotive industry, Erku Druckguss, has gone bankrupt. This was reported by the Kreditschutzverband (KSV) on 7 December 2004. Due to the firm's economic dependency from German demand, marketing difficulties of the German automotive industry have directly been reflected in its order situation. Moreover, the company, during recent years, has had technical problems in manufacturing, which has resulted in the withdrawal of important clients. All 188 employees of the company stand to lose their jobs.
Eurofound (2004), Erku Druckguss, Bankruptcy in Austria, factsheet number 60915, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60915.