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 Food And Beverage Manufacture Of Food Products 10.4 - Manufacture of vegetable and animal oils and fats
194 jobs Number of planned job losses
Announcement Date
11 August 2005
Employment effect (start)
Foreseen end date
Description
On 11 August 2005, the European group Bunge announced plans to close the factory Muntenia in Bucharest (Bucuresti region). The decision is part of a strategy of improving the efficiency of BungeÂ’s industrial footprint in Romania by consolidating production in more efficient and better located plants.
The Muntenia plant employed 194 people. Bunge will initiate a programme to assist workers affected by the closing. It will include targeted severance packages, additional support for employees with special circumstances, outplacement assistance and about 40 new alternative job offers (long or short term) within Bunge in Romania.
Bunge Europe, a subsidiary of global Bunge group, is an integrated global agribusiness and food company operating in the farm-to-consumer food chain. Bunge Europe has 4,000 employees and locations in 10 countries all over Europe, especially in Eastern countries.
In Romania Bunge produces three brands of vegetable oil and since 1999 holds a 40% market share. In 2004, it employed 820 people and reported $102 million in turnover.
Sources
12 August 2005: Ziarul Financiar
11 August 2005: Ziarul Financiar
Citation
Eurofound (2005), Muntenia, Closure in Romania, factsheet number 62205, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62205.
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