ST Glass

Type
Closure
Country
Hungary
Region
Alföld és Észak; Észak-Magyarország; Nógrád
Location of affected unit(s)
Salgótarján
Sector
Manufacturing
(22 - 23) Manufacture of rubber, plastic and non-metallic minerals
23 - Manufacture of other non-metallic mineral products
23 - Manufacture of other non-metallic mineral products
750 jobs
Number of planned job losses
Job loss
Announcement Date
12 April 2005
Employment effect (start)
12 April 2005
Foreseen end date

Description

ST Glass, the 112 years-old glassworks factory in Salgótarján is in liquidation. The state-owned firm, which was privatized in 2004 has made significant losses in the past years (in spite of subsidies received in May 2004). As a consequence of the accumulation of debts, salaries of 750 employees are still unpaid.

Sources

  • 12 April 2005: Népszabadság
  • 12 April 2005: Napi Gazdaság

Citation

Eurofound (2005), ST Glass, Closure in Hungary, factsheet number 61384, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61384.