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.
Erftcarbon, a producer of electrodes that has recently been taken over by Japanese Tokai Carbon, has announced that it will give up its production of cathode and carbon electrodes. These businesses in recent years have seen intensifying competition from producers in economies with low labour cost, including Ukraine, Russia, Poland, and China. At the same time, in Europe several aluminum smelting plants have announced their closures, diminishing Erftcarbon's traditional customer base. Erftcarbon has therefore decided to specialise in graphite electrodes for steel making, which is a growth area. 100 jobs will be cut in the process, a redundancy programme is being worked out. In it, redundant workers will get help to find a new job.
Eurofound (2005), Erftcarbon, Closure in Germany, factsheet number 62076, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62076.