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 Basic Metal And Fabricated Metal Products Manufacture Of Fabricated Metal Products, Except Machinery And Equipment 25 - Manufacture of fabricated metal products, except machinery and equipment
295 jobs Number of planned job losses
Announcement Date
12 October 2005
Employment effect (start)
Foreseen end date
Description
Tallinna Masinatehas faced difficulties to fulfil an order from the concern ABB and the company is in threat of bankruptcy. In September 2005, the company requested collective dismissal's compensation from the Unemployment Insurance Fund to its 295 employees. After the one month of forced vacation, the workers will start their activities under a new owner. The company was bought by Alexo Invest and the additional investments will guarantee new qualitative development of the firm. New firm will concentrate more on the production of metal constructions and the main market in the following years will be Russia.
Sources
12 October 2005: Aripaev
19 October 2005: Eesti Päevaleht
13 October 2005: Aripaev
12 October 2005: Postimees
Citation
Eurofound (2005), Tallinna Masinatehas, Bankruptcy in Estonia, factsheet number 62487, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62487.
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