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.
Miniwatt is a Spanish company based in Barayo( Catalonia), owned by Philips and the Korean group LG, and produces display tubes for television sets. Due to the decreasing demand of traditional televisions (which require display tubes) the company had registered losses of over €24 million in 2003 and of €30 million in 2004. In 2004, the company launched a plan creating 150 dismissals. In 2005, taking into account 2004 negative turnover, the Management is thinking about closing its production centre creating 370 redundancies. No official communication has yet been submitted to either the labour representatives or the regional authorities.
Eurofound (2005), Miniwatt, Closure in Spain, factsheet number 61071, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61071.